Home Business Market capitalisation on stock exchange up by N88bn

Market capitalisation on stock exchange up by N88bn

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L-R: Mr. Peter Ashade, Managing Director/CEO, Africa Prudential Plc; Ammuna Lawan Ali, Non-Executive Director (Independent), Africa Prudential Plc; Mr. Oscar Onyema, CEO, Nigerian Stock Exchange; Chief (Mrs.) Eniola Fadayomi, Chairman; and Mr. Peter Elumelu, Non-Executive Director, Africa Prudential Plc at the Closing Gong Ceremony held at the Exchange in Lagos, recently.

Activities on the Nigerian Stock Exchange (NSE) on Friday sustained the positive slide with the market capitalisation appreciating further by N88 billion, amid gains by blue chips.

The market capitalisation which opened at N13.763 trillion rose by N88 billion or 0.64 per cent to close at N13.851 trillion.

Also, the All-Share Index inched 247.14 points or 0.64 per cent to close at 38,923.26 compared with 38,676.12 achieved on Thursday.

NAN reports that major blue chips posted price appreciation with Nigerian Breweries leading the gainers’ table with a gain N2.10 to close at N138.10 per share.

Unilever followed with a gain of N1.99 to close at N41.85, while Forte Oil N1.90 to close at N46 per share.

Guinness appreciated by N1.60 to close at N95.60, while Flour Mills added N1.43 kobo to close at N31.88 per share.

On the other hand, National Salt led the laggards’ table with a loss of 61k to close at N20.18 per share.

PZ Industries followed with a gain of 40k to close at N20, while United Bank for Africa dropped by 24k to close at N11 per share.

FBN Holdings was down by 23k to close at N9.28, while Dangote Sugar depreciated by N1.43 to close at N31.88 per share.

NAN reports that a total of 753.31 million shares worth N11.02 billion were exchanged in 7,253 deals.

This was against the 825.13 million shares valued at N3.89 billion traded in 6,220 deals on Thursday.

Transcorp emerged the most traded equity, accounting for 171. 69 million shares worth N314.80 million.

Diamond Bank traded 89.668 million shares valued at N179.590 million, while FCMB Group sold 86.504 million shares worth N172 million.

Zenith International Bank exchanged N47.381 million shares valued at N1.32 billion, while Fidelity Bank sold 43.64 million shares valued at N129.04 million.