NSE’s market capitalisation rises by N2 billion

EQUITIES transactions on the Nigerian Stock Exchange closed in an upbeat yesterday, as most blue-chip companies appreciated in price, causing market capitalisation to rise marginally by N2 billion.

Yesterday, the twin market performance measures, the NSE ASI and market capitalisation, rose by 0.02 per cent.
At the close of trading in the day, 29 stocks recorded price appreciation, while 12 others equally constituted the losers table.

The twin market indicators, the All-Share Index rose by 4.62 basis points or 0.02 per cent from 26,948.43 to close at 26,953.05 while the market capitalisation appreciated by N2 billion from N9.265 trillion to N9.267 trillion.

Further analysis of the day’s trading showed that Unity Bank Plc topped the day’s gainers’ table with 9.38 per cent to close at 70 kobo per share while Continental Insurance Plc followed with 6.80 per cent to close at N1.10 per share. CCNN Plc gained five per cent to close at N7.77 per share. 
On the flip side Skye Bank Plc led the losers’ chart with a drop of 6.06 per cent to close at N1.24 per share while UACN Plc shed 4.98 per cent to close at N20.43 per share. Mobil Nigeria Plc dropped by 4.96 per cent to close at N125.84 per share.

On the activity chart, the banking subsector dominated in volume terms with 44.4 million shares worth N249.8 million in 611 deals. The sub sector was enhanced by the activities in the shares of UBA Plc and Diamond Bank Plc.
Premium subsector boosted by the activities on the shares of Zenith Bank Plc followed with 20.6 million units, worth N294.3 million in 463 deals.

In all, investors exchanged a total of 172.7 million shares, worth N2.6 billion in 2,480 deals.