Money market

NSE: Trading resumes on postive trend, market capitalisation up by N106bn

Trading resumed on the Nigerian Stock Exchange (NSE) for the week on Monday on a positive note with the market capitalisation rising by N106 billion.

The News Agency of Nigeria (NAN) reports that the market capitalisation rose by N106 billion or 0.88 per cent to close at N12.119 trillion compared with N12.013 trillion on Friday.

In the same vein, the All-Share Index which opened at 32,907.33 inched 288.74 points or 0.88 per cent to close at 33,196.07 due to gains by some highly capitalised stocks.

A breakdown of the price movement chart indicates that Stanbic IBTC recorded the highest gain to lead the gainers’ table with N3 to close at N49 per share.

Guaranty Trust Bank followed with a gain of N1.50 to close at N38.50, while Dangote Cement also garnered N1.50 to close at N212.50 per share.

Forte Oil appreciated by 60k to close at N21.60, while Zenith Bank added 45k to close at N24.45 per share.

Conversely, Nigerian Breweries topped the laggards’ table with a loss of 50k to close at N87.50 per share.

Custodian and Allied Insurance trailed with a loss of 45k to close at N4.95, while Flour Mills declined by 30k to close at N19.05 per share.

UACN lost 25k to close at N9.55, while Oando was down by 15k to close at N5.20 per share.

Further analysis of the activity chart shows that the volume of shares transacted dropped by 46.31 per cent with an exchange of 150.50 million shares worth N2.88 billion in 2,624 deals.

This was against the 280.33 million shares valued at N1.96 billion exchanged in 3,918 deals on Friday.

Zenith Bank was the most sought, trading 28.43 million shares worth N690.37 million.

It was trailed by Guaranty Trust Bank with an account of 28.28 million shares valued at N1.07 billion, while FCMB Group traded 15.37 million shares worth N23.83 million.

FBN Holdings sold 10.47 million shares worth N94.10 million, while Fidelity Bank exchanged 9.13 million shares valued at N18.57 million.

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