Nigerian Scholars » N78bn Gained By Stock Market Capitalization As Equities Rally Deepens

N78bn Gained By Stock Market Capitalization As Equities Rally Deepens

The stock market opened the week on a positive note as equities rally deepens, extending it to six consecutive trading days.

The market capitalisation of listed equities on the exchange appreciated by N78 billion from N11.402 trillion to N11.480 trillion.

In the same vein, the Nigeria Stock Exchange (NSE) All-Share Index (ASI) rose by 235.10 basis points or 0.68 per cent to close at 34,663.92 basis points from 34,428.82 on Wednesday.

With the development, its year-to-date return now stands at 24.09 per cent negative. Nestle led the gainers’ chart by N64.78 to close at N995 per share. Seplat gained N33.01 to close at N355.12 while Forte Oil grew by N13.25 to close at N227.25 per share. Guinness appreciated by N7.58 to close at N159.45 while Unilever went up by N1.60 to close at N34.10 per share.

On the other hand, Conoil recorded the highest price loss of N4.33 to close at N40.11 per share. Dangote Cement trailed with a loss of N2.86 to close at N193.79 while MRS dipped by N2.80 to close at N53.20 per share. Oando lost 97 kobo to close at N19 while Flourmill depreciated by 61 kobo to close at N39.40 per share.

Royal Exchange emerged as the investors’ delight, accounting for 231.79 million shares worth N118.21 million. UTC exchanged 75.55 million shares valued at N37.77 million, while Zenith Bank sold 52.82 million shares worth N1.1 billion. FBN Holdings traded 37.57 million valued at N343.25 million and First City Monument Bank (FCMB) sold 33.11 million worth N92.79 million.

In all, the volume of shares traded increased by 6.57 per cent as investors exchanged a total of 620.152 million shares worth N4.68 billion in 4,606 deals as against the 581.903 million shares valued at N3.21 billion traded in 3,448 deals on Wednesday.(Leadership News)

Corporate Overview of the Nigerian Stock Exchange Market

The Nigerian Stock Exchange services the largest economy in Africa and is championing the development of Africa’s financial markets.  The NSE, a registered company limited by guarantee, was founded in 1960 and it is licensed under the Investments and Securities Act (ISA) and is regulated by the Securities and Exchange Commission (SEC) of Nigeria. The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services and more.
The Nigerian Stock Exchange is committed to adopting the highest levels of international standards. To support this commitment, The NSE belong​s to a number of international and regional organizations that promote the development and integration of global best practices across its operations. It is a member of the International Organization of Securities Commissions (IOSCO), the World Federation of Exchanges (WFE), Sustainable Stock Exchanges (SSE) Initiative, the SIIA’s Financial Information Services Division (FISD) and the Intermarket Surveillance Group (ISG). The Exchange is a founding member and executive committee member of the African Securities Exchanges Association (ASEA).

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