Nigeria market capitalisation rises by N23bn


uba-ceo-nseThe rally in the equity segment of the Nigerian Stock Exchange deepened on Wednesday as major indicators closed positive for the fifth straight session.

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The NSE All-Share Index rose by 70.95 basis points or 0.18 per cent to close at 38,125.18 points, compared to an appreciation of 0.3 per cent the previous day.

Similarly, the market capitalisation of the listed equities gained N23bn or 0.18 per cent from N12.158tn to close at N12.181tn.

The NSE 30 Index was up by 4.06 basis points or 0.22 per cent to close at 1787.51 basis points, while the NSE Banking Index rose by 1.51 per cent or 6.1 basis points from 402.78 points to 408.88.

Also, the NSE Consumer Goods Index appreciated, rising by 2.57 basis points or 0.23 per cent to close at 1,110.90 points, from Tuesday’s close of 1,108.33 points.

The NSE Insurance Index and the NSE Industrial Index, however, fell by 0.42 per cent and 0.01 per cent to close at 139.83 basis points and 2,295.23 points, respectively.

The banking sub-sector maintained its lead on the activity chart, with investors exchanging 243.656 million shares, worth N3.447bn in 1,509 transactions. Activities in the banking sub-sector accounted for 52.30 per cent of total turnover.

Volume in the sub-sector was driven by trading in the shares of Zenith Bank Plc, United Bank for Africa, Unity Bank and Fidelity Bank.

A total of 20 stocks recorded price appreciation while 24 others recorded price depreciation.

Forte Oil Plc recorded the highest price appreciation of the day, rising by 4.99 per cent or N4.31 to close at N9.63 per share.

UAC of Nigeria Plc, in second place, rose by 4.96 per cent or N3.27 to close at N69.15 per share, while Eterna Plc gained 4.73 per cent or 13 kobo to close at N2.88 per share.

On the other hand, International Energy Insurance Plc lost the highest, shedding five per cent or three kobo to close at 57 kobo per share.

NEM Plc and UTC Nigeria Plc shed 4.69 per cent each to both close at 61 kobo per share.


Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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