Market capitalisation gains N130bn

By Philemon Adedeji

The Nigerian stock market appreciated for the fourth consecutive session yesterday as market capitalisation grew further by N130 billion to close trade at N27.828 trillion from N27.697 trillion derived on Wednesday.

Also,the Nigerian Exchange Limited (NGX), All share index ended trade at 241.52 basis points or 0.47 per cent higher to close trade at 51,618.73 index points from 51,377.21 index points it closed on previous trading day.

The trading transaction performance was primarily driven by sustained rebounds in large and capitalised stock such as FBNH, MTNN, Oando, FCMB and others.

In all, volume of trade slightly decreased by 2.7 per cent as investors bought and sold 223,245,093 million units value by N2.858 billion, exchange in 4,028 deals.

From the data supplied by Nigerian Exchange Limited, First bank holding of Nigeria was seen recorded as the highest traded stock which gained 0.90 kobo representing 9.78 per cent increased to close trade at N10.10 per share, Followed by FTNCocoa which recorded as the second best gainer grew to 9.38 per cent or 0.03 kobo to end trade at N0.35 per share.

Chiplc rose by 8.06 per cent or 0.05 kobo to close trade at N0.67 per share while Livestock went up by 6.94 per cent to close trade at N1.54 per share and UBN which recorded as the last fifth gainer rose by 0.35 kobo to represent 6.19 per cent to close trade at N6.00 per share.

On the losers table, Academy press and Ellahlakes dipped by 10 per cent each to close trade at N1.17 and N3.96 per share respectively.

Presco and Etranzact dropped by 9.84 per cent each to close trade at N165 and N2.20 per share respectively, while Meyer plc which recorded as the last fifth decliner, depreciated by 0.27 kobo representing 9.68 per cent to close trade at N2.52 per share.

On the volume table, Mutual Benefit Assurance topped the volume chart at the close of trade yesterday by 40.130 million share value at 10.031 million, Followed by Oando which accounted 28.523 million share value at 168.937 million, while First city monument bank sold 24.462 million share worth 85.567 million.

Accesscorp accounted 24.099 million share value at 229.017 million and first bank holding of Nigeria traded 12.359 million share worth 121.765 million

Mutual benefit Assurance led the volume chart while Accesscorp led the value chart.