Stock Market Upbeat as Capitalisation Gains N76bn

• Stock Market Upbeat as Capitalisation Gains N76bn

The Nigerian Stock Exchange (NSE) closed on an upbeat note on Friday with key indicators appreciating by 0.58 per cent, while volume of transaction rose by 81.85 per cent.

The News Agency of Nigeria (NAN) reports that the market capitalisation gained N76 billion or 0.58 per cent to close at N13.271 trillion compared with N13.195 trillion posted on Thursday.

Also, the All-Share Index which opened at 36,427.22 rose by 209.75 points or 0.58 per cent to close at 36,636.97.

Cement company of Northern led the gainers’ table during the day, gaining N2.85 to close at N31.35 per share.

International Breweries followed with a gain of N1.50 to close at N37, while Dangote Sugar also advanced by N1.50 to close at N16.50 per share.

Forte oil grew by 90k to close at N24, while Dangote Flour added 80k to close at N9.05 per share.

On the other hand, Seplat topped the losers’ chart, dropping by N25 to close at N625 per share.

Berger Paint trailed with a loss of 55k to close at N8, while Total shed 20k to close at N199.80 per share.

NPF Microfinance Bank was down by 15k to close at N1.57, while NSL dropped by 4k to close at 40 per share.

MedView Air was the toast of investors, trading 100 million shares worth N214 million.

United Bank for Africa followed with an account of 32.09 million shares valued at N310.84 million, while Zenith Bank traded 31.29 million shares worth N743.05 million.

Fidelity Bank sold 23.97 million shares worth N45.35 million, while Transcorp traded 12.57 million shares valued N15.06 million.

Consequently, volume of shares transacted appreciated by 81.85 per cent and 17.11per cent, respectively.

NAN reports that investors bought and sold 311.36 million shares worth N3.49 billion in 3,735 deals.

This was 171.22 million shares valued at N2.98 billion achieved in 3,595 deals on Thursday.