Leadership (Abuja)

Nigeria: Market Capitalisation Rises By 0.34 Percent

Trading activities on the floor of the Nigerian Stock Exchange was enhanced by 70.7 million units of Access Bank shares traded, just as the market capitalisation index rose in the day by 0.34 per cent or N29 billion.

The appreciation in the day saw Access bank however rising marginally by 0.47 per cent to close the day at N8.64, amidst massive profit taking by investors who are catching on capital appreciation in the shares of listed companies.

Further review of the day's transaction showed that highly capitalised stocks comprising 21 companies recorded price appreciation while 27 others ironically depreciated in price.

At the close of transaction, UACN Plc topped the day's gainers table with 7.45 per cent to close at N42.98 while BAGCO Plc followed with 7.11 per cent, to close at N2.26 per share. PortpaintPlc, Flourmill Plc and Sterling Bank also chalked 4.87, 4.66 and 4.55 per cent to close at N4.09, NN66.25 and N1.61 per share.

On the other hand Academy Plc emerged the days highest loser with 10.00 per cent to close at N2.70 per share. Unity Bank Plc followed, losing 8.47 per cent, to close at N0.54 per share. UAC-Property Plc, Total Nigeria Plc and Northern Nigerian Flourmill Plc depreciated by 6.51, 5.00 and 5.00 per cent, to close at N11.20, N118.75 and N19.39 per share.

Consequently, market capitalisation rose by N29 billion or 0.34 per cent, from N8.370 trillion recorded on Monday to N8.399 trillion while All-Share Index increased by 91.16 points or 0.34 per cent, from 26,267.57 to 26,358.73

With transaction exchanged in 2,287 deals, the banking sub-sector maintained its dominance in volume terms with 188.8 million shares, worth N1.7 billion. The insurance sub-sector trailed with 115.2 million units, worth N67.4 million while the Petroleum marketing sub-sector ranked third with 34.1 million units, worth N59.7 million in 118 deals.

In all, investors exchanged 397 million shares,, worth N2.49 billion in 4,191 deals.

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