Market capitalisation increases further by N523bn


By Philemon Adedeji

As the week opened yesterday, the stock market on the Nigerian Exchange Limited (NGX) extended positive trading as market capitalisation increased further by N523 billion, as the following stocks sustained interest in NB, Cadbury, Royalex Exchange and 35 others.

Absolutely, All Shares Index largely increased by 967.45 basis points or 1.9 per cent to close trade at 51,902.48 basis points as the overall market capitalisation value gained N523 billion to close trade at N27.981 trillion.

The market sentiments as measured by market breadth was positive as 38 stocks constituted the gainers relative to 21 stocks that constituted the losers

In all, the volume of shares traded declined by 24 per cent as investors bought and sold 337.564 million shares worth N5.554 billion and exchanged in 7,684 deals.

On the advancers table, NB was the highest price gainer which appreciated by 10 per cent or 7 kobo to close trade at N77 per share, Cadbury Plc, followed by 1.35 kobo representing 9.96 per cent to close trade at N14.90 per share.

Royalex Exchange was recorded as the third top advancer which gained by 9.90 per cent to close trade at N1.11 per share, while Champion Breweries went up by 0.33 kobo to represent 9.88 per cent increased to close trade at N3.67 per share and lnternational Breweries which recorded as the fifth top gainer rose by 9.63 per cent or 0.65 kobo increased to close trade at N7.40 per share.

On the decliners table, Transcohot was recorded as the top decliners which depreciated by 10 per cent or 0.45 kobo to close trade at N4.05 per share, this is as Guinness Plc dipped by 9.59 per cent or 10.55 kobo to closed trade at N99.45 per share.

Multiverse declined by 0.02 kobo to close trade at N2.02 per share, Wapic Insurance dropped by 0.03 kobo representing 6.67 per cent to close trade at N0.42 per share and SUNY Assurance which recorded as the fifth  gainer went down by 6.06 per cent or 0.02 kobo to close trade at N0.31 per share.

Transaction in the shares of Transcorp topped the activity chart which transacted 37.756 million shares worth N45.004 million, followed by Guaranty Trust Holding Company which traded 24.757 million shares valued at N580.629 million.

Zenith Bank traded 21.199 million shares worth N521.668million, while Accesscorp traded 19.347 million shares valued at N185.445 million, and First Bank of Nigeria Holding transacted 15.849 million shares worth N190.263 million.

Transcorp  Plc was recorded as the highest stock in terms of volume, while Guaranty Trust Holding Company was recorded as the highest  stock in terms of value.