Market capitalisation increases further to N128bn on Friday


By Philemon Adedeji

At the close of the week on Friday, Trading on Nigerian Exchange Limited (NGX) closed on positive note, All shares index increased further to 235.79 basis points.

Meanwhile, the overall market capitalisation value increased significantly to N128 billion to close trade at N26.125 trillion.

The market price was driven by price appreciation in large and medium capitalised stocks amongst which are Oando plc, Eternal plc, Meyer, Wapco and 34 others.

Specifically, At the close of the week on Friday All Shares Index (ASI)  gained further by 235.79 basis points or 0.48 per cent to close at 48,459.65 basis points from 48,222.86 it closed trade on Thursday.

Trade volume also increased further  significantly by a 40 per cent to 342,139,687 million units, valued at N3.855 billion and exchange in 4,976.

The market sentiments as measured by market breadth 38 stocks gained relative to 18 stocks that declined.


At the close of trade on Friday, Oando Plc emerged as the highest price gainer which grew by 9.94 per cent increased to close trade at N5.86 per share, Followed by Eternal plc which rose 0.60 kobo representing 9.92 per cent increased to close trade at N6.65 per share.

Meyer recorded as the third most gainer which went up by 9.91 per cent to close trade at N2.33 per share, While Wapco gained 2.30 kobo or 9.89 per cent increased to close trade at N25.55 per share and Ikeja hotel which recorded as the last fifth gainer appreciated by 0.12 kobo or 9.30 per cent increased to close trade at N1.41 per share.


Academy was recorded on Friday as the highest loser which declined by 10 per cent or 0.13 kobo  to close at N1.17 per share, Followed by Rt.briscoe, Royalex exchange, Caverton dipped by 0.05 kobo to close trade at N0.53 per share, N0.96 per share, N1.18 per share respectively, Sovereign insurance was recorded as the last fifth loser depreciated by 4 per cent to close trade at N0.24 per share.

Transaction in the share of Fidelity Bank topped the activity chart which traded 47.238 million shares valued at 186.992 million, accompanied by Sovereign insurance which transacted 44.058 million shares worth 10.544 million.

While Zenith Bank transacted 39.898 million shares valued at 99.033 million, as Transcorp traded 24.175 million shares valued at 24.525 million and lastly, Accesscorp traded 21.655 million shares worth 21.229 million.