NSE Market Capitalisation Hits N13tn Mark, Amid Nestle Gain

• NSE Market Capitalisation Hits N13tn Mark, Amid Nestle Gain

The Nigerian Stock Exchange market capitalisation on Tuesday hit the N13tn mark, barely three weeks it crossed N12tn market, amid Nestle gain.

The market capitalisation appreciated by N164bn or 1.27 per cent to close at N13.097tn against N12.933tn achieved on Monday.

Similarly, the All-Share Index improved by 474.12 points or 1.26 per cent to close at 37,999.50 compared with 37,525.38 points posted on Monday.

Nestle topped the gainers’ table with a gain of N94.93 to close at N1,154. 93, following investors reactions to its half year earnings released recently in the market.

Nigerian Breweries followed with a gain of N9.05 to close at N190.05 and Guinness gained N7.38 to close at N79.38 per share.

7UP increased by N3.30 to close at N98, while Okomu Oil Palm appreciated by N2.72 to close at N72.72 per share.

On the other hand, Presco posted the highest loss to lead the losers’ chart, dropping by N3.73 to close at N70.78 per share.

Conoil trailed with a loss of N1.82 to close N34.58 and Total was down by N1.50 to close at N260 per share.

Dangote Cement dipped 79k to close at N240, while Zenith International Bank declined by 60k to close at N24.50 per share.

However, the volume of shares traded closed lower as investors bought and sold 218.22 million shares valued at N5.07bn exchanged in 5,336 deals.

This was in contrast with a turnover of 254.49 million shares worth N5.79bn transacted in 4,600 deals on Monday.

FCMB Group recorded the highest volume of shares, exchanging 20.21 million shares valued at N24.34m.

Zenith Bank came second with 16.91 million shares worth N416.55m, while Sterling Bank sold 15.68 million shares valued at N15.69m.

Guaranty Trust Bank traded 14.26 million shares worth N571.83m and United Bank for Africa exchanged 14.17 million shares valued at N136.04m.