Leadership (Abuja)

Nigeria: NSE Market Capitalisation Rises By N73 Billion

Heavy gains in consumer goods yesterday lifted key indices of equities on the Nigerian Stock Exchange, resulting in a gain of N73 billion.

The Consumer index gained 2.15 per cent to close at 1,756.46 points, followed by NSE-30 index, which represents blue chip companies, with 0.97 per cent to close at 980.86 points.

The banking index erased 0.20 per cent it gained the preceding day, to close at 302.12 points, while insurance and oil and gas indices lost 0.33 per cent and 1.05 per cent to close at 119.37 points and 170.08 points respectively.

The All Share Index rose by 1.08 per cent to close at 21,573.84 points, compared to 0.05 per cent recorded the preceding day to close at 21,347.17 points.

Market capitalisation gained N73bn to close at 6.88trn, higher than the decline by N3bn recorded the preceding day to close at N6.81trn.

Nestle Nigeria Plc led the gainers' table with N21.25 or five per cent to close at N21.25 per share, followed by WAPIC Insurance Plc with four kobo or five per cent to close at 84 kobo per share.

RT Briscoe Plc gained nine kobo or 4.92 per cent to close at N1.92 per share, while Japaul Oil Plc added three kobo or 4.55 per cent to close at 69 kobo per share. Paint Manufacturing Company Plc appreciated by eight kobo or 4.82 per cent to close at N1.74 per share.

On the flip side, Julius Berger Nigeria Plc dropped by N1.45 or 4.99 per cent to close at N27.63 per share, while Oando Nigeria Plc dipped by 68 kobo or 4.93 per cent to close at N13.10 per share.

UAC-Properties Plc depreciated by 43 kobo or 4.65 per cent to close at N8.82 per share, while Cement Company of Northern Nigeria Plc declined by 27 kobo or 4.58 per cent to close at N5.63 per share. Eterna Oil Plc lost 15 kobo or 4.76 per cent to close at N3.00 per share.

Financial services sector led equities transaction volume with 4.43 billion shares valued at N16.38bn were exchanged in 1,845 deals, in contrast to 101.61 million shares worth N540.28m traded in 2,267 deals the preceding day.

Trading in the shares of Union Bank of Nigeria Plc drove the transaction volume, followed by WAPIC Insurance Plc, Custodian Insurance Plc, First Bank Plc and Diamond Bank Plc.

A total of 4.51 billion shares worth N17.1bn were exchanged in 3,263 deals, compared to 31.69 million shares valued at N1.71bn traded in 3,958 deals the preceding day.

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