Market capitalisation increases by N14bn

By Philemon Adedeji

The stock market on the Nigerian Exchange Limited (NGX) yesterday closed positive and increased slightly with N14 billion gain.

Following sustained interest in ACADEMY, CHAMPION, NEIMETH PHARMACEUTICAL PLC and other stocks.

Absolutely, the All Shares Index increased slightly by 25.21 basis points or 0.05 per cent to close trade at 48,568.27 basis points from 48,543.36 basis points it closed trade on Monday, as overall market capitalisation value gained N14 billion to close trade at N26.184 trillion.

Since this year began Stock market has advanced 4,736.37 base points the market sentiments as measured by market breadth 28 stocks constituted the advancers chart, While 23 stocks constituted the decliners chart.

The trade volume increased from 328,391,904 million units it closed on Monday to 464,733,314 million units it closed Yesterday.

On the advancers chart, Academy led as the most price gainer which gained by 10.00 per cent or 0.11 kobo to close at N1.21 per share, while CHAMPION followed by 9.78 per cent to close at N2.47 per share.

Meyer rose by 0.25 kobo representing 9.77 per cent to close trade at N2.81 per share, Neimeth pharmaceutical Plc grew by 0.25 kobo representing 9.43 per cent increase to close trade at N2.90 per share. On the declines table, Multiverse was the highest loser which down by 8.70 per cent or 0.02 kobo to close trade at N0.21 per share, Followed by international breweries which depreciated by 0.45 kobo to close trade at N5.15 per share.

Cadbury plc declined by 7.74 per cent or 0.65 kobo to close trade at N 7.75 per share, Japaulgold dropped by 0.02 kobo representing 6.25 per cent to close trade at N0.30 per share and Honey flour which recorded as the last fifth loser dipped by 4.88 per cent or 0.19 kobo to close trade at N3.70 per share.

Transaction in the share of Transcorp Plc topped the activity chart which transacted 123.820 million shares valued at N144.564 million.

Followed by Aiico insurance which led 20.506 million shares worth 14.049 million. Zenith bank plc traded 19.444 million shares worth 493.415 million.

First bank holding of Nigeria transacted 18.452 million shares valued at 220.754 million and lastly, Fidelity bank traded 18.148 million shares worth 69.053 million