CCNN, NASCON, others lift NSE’s market capitalisation by N48b

DESPITE price losses that outweighed losses, equity transactions on the Nigerian Stock Exchange closed in an upward note yesterday, occasioned by price gains, recorded by major  bluechip companies as market capitalization appreciated by N48billion.

   Specifically, at the closed of transactions yesterday, the All-share index rose by 143.37 points or 0.5 per cent from 27,585.26 posted on Friday to 27,728.63. The market capitalization increased by N48b   points or 0.5    per cent, from N9,204 trillion to N9, 252 trillion.

   On the price movement chart, 20 companies appreciated in price, led by Cement Company of Northern Nigeria and National Salt Company of Nigeria, with five to close at N0.51 and N0.30 per share while Skye bank followed with 4.95per cent to close at N1.91 per share.Seplat added 4.94 per cent to close at N404.00 per share.

Nigerian Aviation Handling Company gained 4.89 per cent to close at N4.72 per share.

   FO, Zenith Bank, TransNational Corporation of Nigeria garnered 3.73,3.39 and 3.07 per cent to close at N220.00, N16.15 and N2.35 per share.

Guaranty Trust Bank gainecd 2.35 to close at N17.40 per share. African Prudential added 1.82 per cemnt to close at N2.80 per share.

    However, 26 stocks depreciated in price, as UAC-Properties emerged the day’s highedst price loser with 9.63 per cent to close at N10.79 pert share.

Champion Breweries followed with 9.60 per cent to close at N5.37 per share.

Honeywell flourmills shed 9.52 per cent to close at N2.85 per share.

Betaglass, AG Leventis, CAP shed 5.00,5.00 and 4.98 per cent to close at N28.50, N1.14 and N36.82 per share.

   Oando lost 4.96 per cent to close at N12.83 per share while Fidelity bank dropped 2.80 per cent to close at N1.19 per share.

   Livestock feeds and RT Briscoe also dropped 4.78 and 4.76 per cent to close at N1.99 and N0.80 per share.

The turnover by volume of transaction decreased by 38.41% relative to the previous day trading session closing figure. Value of transaction also decreased by 60.08%. Major transaction volume was driven by activities in the banking and conglomerates sector led by FCMB, Guaranty Trust Bank, UBA, TRANSCORP, and FBN Holdings.