Market capitalisation of NSE rises by N107 billion

Onyema bags ‘Most Innovative CEO of the Year’ award

FOLLOWING price gains recorded by some bluechip companies, equity transactions on the floor of Nigerian Stock Exchange (NSE) yesterday re-opened week in an upward trend as  market capitalisation of equities appreciated by N107 billion. 

   Specifically, at the closed of trading yesterday, the market capitalisation of listed equities increased by 1.08 per cent to N9.953 trillion from N9.846 trillion traded last week Friday. 

   Also the NSE All Share Index (ASI) advanced by 320.21 basis points to 29883.28 points from 29562.07 recorded previously.           

 Investors bought 254.843 million shares valued at N3.248 billion in 5501 deals against 317.667 million shares valued at N4.751 billion in 3800 deals.            

   Seplat Petroleum Development Led gainers table for the day, appreciating by N12.77 kobo to close at N318.00, Nigerian Breweries followed with a gain of N6.98 kobo to close at N149.00 while Nestle Nigeria Plc, Glaxosmithkline, and Dangote   Cement grew by N3.75 kobo, N2.00 and N1.70 kobo respectively to close at N804.00, N42.00 and N157.71 kobo.    

   On the contrary, Forte Oil topped losers chart, dropping by N6.95 kobo to close at N223.05 kobo, 7UP Bottling Company Plc trailed with a loss of N5.30 kobo to close at N150.70 kobo while Presco Plc fell by N1.62 kobo to close at N31.04 kobo. 

Other companies that recorded price depreciation were UAC of Nigeria and Ecobank   Transnational Incorporated which declined by N0.20 kobo and N0.18 kobo respectively to close at N37.00 and N16.00 .                              

   Further analysis of the trading during the day  showed that FBN Holdings traded the highest volume of activities with account of 24.039 million shares worth N170.121 million, Access Bank Nigeria Plc followed with account of 23.080 million shares valued at N118.892 million and FCMB group sold 22.709 million shares cost N45.591 million. 

    Dangote Sugar also exchanged 19.153 million shares worth N135.493 million and Sterling Bank traded 18.340 million shares worth N42.578 million.

    Meanwhile, the Chief Executive Officer the NSE,  Oscar N. Onyema,  has been named ‘Most Innovative CEO of the Year’ in recognition of his tremendous role in the development of the Nigerian capital market. 

   The award was presented at the inauguration ceremony of the nineth President of the Abuja Chamber of Commerce and Industry, Mines & Agriculture (ABUCCIMA), held at the Sheraton Hotel, Abuja recently.

   According  to the Vice-president, public relations, ABUCCIMA, Jude Igwe, the awards are given to only individuals who have consistently demonstrated uncommon resilience and innovation in their various economic engagements.

 Commenting on the award, Onyema said, “I am honoured to receive the 2014 Abuja Chamber Award for Most Innovative CEO of the Year. While this award is personal in nature, it would not have been possible without the great team at The Nigerian Stock Exchange, who are making significant contributions to the development of the Nigerian capital market and Africa at large. This award is for my team, iam just receiving it in my name”

   Onyema noted that “The NSE has made great strides in its transformation journey which has brought about major reviews of its governance, market structure and operations, a stronger regulatory environment, and the implementation of innovations required for delivering a robust and efficient capital market”.

   Alhaji Aliko Dangote,  Sir Emeka Ofor and  Olatunde Ayeni were among those honoured by the Abuja Chamber of Commerce, Industry, Mines and Agriculture.