46 Stocks Drive NSE Capitalisation up by N87bn

• 46 Stocks Drive NSE Capitalisation up by N87bn

The Nigerian Stock Exchange market capitalisation gained N87bn at the close of trading on the floor of the bourse as 46 stocks recorded appreciations.

The market continued its bullish trend, advancing further by 0.77 per cent, to settle the year-to-date return at 22.56 per cent. Aside of the 46 gainers, 14 losers emerged.

Similarly, the volume and market value of transactions advanced by 5.82 per cent and 18.8 per cent, accordingly.

A total of 528.692 million shares worth N4.84bn exchanged hands in 5,603 deals. The NSE capitalisation appreciated to N11.386tn from N11.299tn, as the All-Share Index closed at 32,937.98 basis points from 32,686.72 basis points.

Forte Oil Plc topped the gainers’ list, advancing by 10.22 per cent, to close at N58.33, while International Breweries Plc sustained its gains and appreciated by 10.21 per cent owing to the announcement of its merger plans.

On the top gainers’ list also were Cadbury Nigeria Plc, Seplat Petroleum Development Company Plc and Dangote Flour Plc, which appreciated by 10.15 per cent, 10.14 per cent and 10.13 per cent, accordingly.

However, Jaiz Bank Plc topped the losers’ table, depreciating by 4.71 per cent to close at N0.81. In the same vein, Golden Guinea Breweries Plc, Julius Berger Nigeria Plc, Neimeth International Pharmaceuticals Plc and Wapic Insurance Plc recorded declines of 4.71 per cent, 4.67 per cent, 4.05 per cent and 3.64 per cent, respectively.

At the close of trading, all the NSE sector indices closed positive, save for the NSE Industry and NSE Insurance indices, which declined by one per cent and 0.23 per cent, respectively.

“Although there was profit taking on large-cap counters (Dangote Cement Plc and Guaranty Trust Bank Plc), positive investor sentiments ruled the day. We expect the market to close positive week on week,” analysts at Meristem Securities Limited said in a post.