NSE capitalisation appreciates further by N3bn

By Providence Obuh

A slight improvement was recorded on the Nigerian Stock Exchange NSE Wednesday, as equities value represented by the market capitalisation appreciated by N2.78 billion.

In particular, the capitalisation appreciated by 0.03 per cent to close at N8.273 trillion from N8.270 trillion at which it opened.

Another key performance iindices, the All share index rose by 0.03 per cent or 8.69 bases points to close at 25,875.31 points from 25,866.62 points.

Improvement on share price indices was occasioned by gains on the share price 22 companies led by Nigeria Wire Cable Plc with five per cent or N0.03 to close at N0.63 per share, Glaxo Smithkline Consumer Plc followed with N1.3 gain to close at N27.32 per share and Custodian and Allied Insurance Plc moved up by N1.21 to close at N24.28 per share.

Other share price gainers include: May and Baker Nigeria Plc N0.19, Ikeja Hotel Plc N0.07, Bags Manufacturing Company Plc N0.1, African Petroleum Plc N0.85, Niger Insurance Plc N0.03, Nigerian Breweries Plc N3.34, Fidelity Bank Plc N0.09, among others.

On the contrary, Prestige Assurance Company Plc led 42 other stocks on the losers table dropping by five per cent or N0.1 to close at N1.9 per share, Afribank Plc followed with a loss of N0.0.08 to close at N1.52 per share and Red Star Express Plc dipped by N0.15 to close at N2.85 per share. Other share price losers include: Berger Paints Plc N0.58, Vitafoam Nigeria Plc N0.29, RT Briscoe Plc N0.12, Beta Glass Company Plc N0.66, Julius Berger Nigeria Plc N2.88, Eterna Oil Plc N0.27, Union Bank of Nigeria Plc N0.13, among others.

Equity trading appreciated by 35.76 per cent as a turnover of 285.72 million shares valued at N3.14 billion was recorded in 5,353 deals, compared to the previous days turnover of 210.46 million shares valued at N2.25 billion in 4,960 deals.

The Banking sub-sector was the most active on the sectorial analysis accounting for 61.09 per cent of the market turnover with 174.53 million shares valued at N1.50 billion in 2,956 deals. Zenith Bank Plc recorded the highest patronage in the sub-sector trading 40.96 million shares valued at N614.30 million in 321 deals, First Bank of Nigeria Plc followed with the exchange of 19.81 million shares valued at N267.02 million in 600 deals and United Bank for Africa Plc recorded 19.76 million shares valued at N123.34 million in 297 deals.

The Mortgage sub-sector followed on the sectorial analysis accounting for 13.36 per cent of the market turnover with 38.15 million shares valued at N19.16 million in 29 deals. Aso Savings and Loans Plc enjoyed the most patronage in the sub-sector trading 37.12 million shares valued at N18.56 million in three deals, Resort Savings and Loans Plc followed with 100,000 shares valued at N50,000.00 in one deals and Union Homes Savings and Loans Plc 934,458 shares valued at N548,974.24 in 25 deals.