Stock Exchange capitalization gains by ₦27billion

Obinwannem News Stock Exchange capitalization gains by ₦27billion

The market capitalisation of the Nigerian Stock Exchange (NSE) for the third consecutive day on Wednesday, witnessed further growth, increasing by ₦27billion

The News Agency of Nigeria reported that the market capitalisation rose by ₦27bn or 0.23 percent to close at ₦11.55trillion against ₦11.52trillion on Tuesday.

Similarly, the All-Share Index, which opened at 33,436.61, inched 78.32 points or 0.23 points to close at 33,514.93 due to price growth by some highly capitalised equities.

Seplat led the gainers’ table during the day, appreciating by ₦9.98 to close ₦485 per share.

Guinness followed with a gain of ₦3.10 to close at ₦66.10 and Okomuoil Palm increased by ₦1.50 to close at ₦64.50 per share.

PZ Industries added ₦1.05 to close at ₦22.05, while Stanbic IBTC grew by 99k to close at ₦32.49 per share.

On the other hand, Nestle posted the highest loss to lead the losers’ table, shedding ₦16.50 to close at ₦903.50 per share.

Presco trailed with a loss of ₦3.22 to close at N61.32 and Dangote Cement shed ₦2 to close at ₦208 per share.

MRS declined by ₦1.86 to close at ₦15.44 and Flour Mills depreciated by ₦1.10 to close at ₦25.15 per share.

NAN also reported that the volume of shares traded closed lower as investors bought and sold 331.43 million shares valued at ₦3.24bn in 4,055 deals.

This was in contrast to a turnover of 2.40 billion shares worth N21.61bn transacted in 3,715 deals on Tuesday.

Zenith Bank was the toast of investors, exchanging 33.11 million shares worth ₦727.82million.

United Bank for Africa sold 29.25 million shares valued at ₦251.71 million, while FBN Holdings traded 26.56 million shares worth ₦160.75m.

Custodian and Allied Insurance exchanged 25.25 million shares valued at ₦85.86 million and NEM Insurance sold 24.56 million shares worth ₦29.81m.

Ifesinachi Nnabugwu reporting, Obinwannem News