NSE’s indices appreciate further by 1.4 per cent

Equity transactions on the Nigerian Stock Exchange (NSE) opened in an upbeat yesterday, following price gains recorded by major blue-chip companies, causing market capitalisation to appreciate by N117 billion.

Yesterday, the market capitalisation rose by N117 billion or 1.41 per cent to close at N8.452 trillion from N8.335 trillion recorded on Friday.

Also, the All-Share Index which opened at 24,228.79 rose by 341.94 points or 1.41 per cent to close at 24,570.73 amid gains recorded by some blue chips equities.

Market analysts attributed the market growth to end of the month realignment activities embarked upon by some investors and traders. Further analysis of yesterday’s transactions showed that Seplat topped the gainers’ table with N9 to close at N349 per share.

Mobil followed with a gain of N6.97 to close at N156.97, while Dangote Cement increased by N6.75 to close at N141.75 per share. ETI increased by 79 kobo to close at N16.75, while Presco went up by 25 kobo to close at N34.25 per share.

However, Conoil recorded the highest loss for the day, dropping by 91 kobo to close at N17.43 per share. Nigerian Breweries trailed with 77 kobo to close at N101, while Zenith Bank dropped  by 28 kobo to close at N11.07 per share.

Dangote Sugar Refinery depreciated by 27 kobo to close at N5.23 and Oando declined by 23 kobo to close at N2.97 per share. Wapic Insurance was the most traded stock, exchanging 207.11 million shares worth N103.56 million traded in 11 deals.

Access Bank came second with an exchange of 138.97 million shares valued N562.78 million traded in 66 deals, while Zenith Bank sold 24.18 million shares worth N268.71 million achieved in 506 deals.

FCMB Group accounted for 13.46 million shares valued N10.31 million transacted in 99 deals and Oando recorded a turnover of 10.67 million worth N32.08 million in 159 deals.

Volume of shares traded increased by 66.64 per cent with an exchange of 467.24 million shares valued N1.49 billion achieved in 2,549 deals, against the 280.39 million shares worth N1.73 billion traded in 2 ,771 deals on Friday.