Home Economy Market capitalisation sustains upward trend, posts 1.49% gain

Market capitalisation sustains upward trend, posts 1.49% gain


The equity market segment of the Nigerian Stock Exchange (NSE) on Monday began the week positively by sustaining its upward trend, gaining 1.49 percent at the close of trading for the day.

In specific terms, the All-Share Index, which measures the market aggregate, gained 637.70 absolute points, representing a growth of 1.49 percent to close at 43,513.93 points.

Similarly, the Market Capitalization gained N229.10 billion, representing a growth of 1.49 percent to close at N15.63 trillion.

Analysts at GTI Securities Limited said the upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which include SEPLAT, which gained N59.90 or 8.56% to close at N760 from N700.01 it closed trading on Friday last week.

It was trailed by Total Oil, which added N11.5 or 4.74 percent to close at N254 as against N242.5 it commenced trading, Dangote Cement rose by N10 or 3.77 percent to close at N2.75 from the opening value of N2.65 per share.

Presco and Betaglass were up N5.25 and N3.6 or 7.22 percent and 4.99 percent to close at N78 and N75.70 in contrast to N72.75 and N72.71 respectively.

Conversely, Mobil Oil led on the top five decliners with a loss of N2.00 or 1.13 percent to close at N175 from N177 it closed trading last Friday.

Guinness Nigeria Plc followed with a value erosion of N1.7 or 1.71 percent from N99.70 to close at N98 per share, while Nigerian Breweries dipped N1.01 or 0.84 percent to close at N129.90 or 0.84 percent.

The share price of Flourmills shed 0.55 or 1.64 percent to close at N33.05 from N33.60 per share, while Zenith Bank Plc lost 45 kobo or 1.43 percent to close at N31.10 from N31.55 it opened trading for the week.

At the close of trading for the day, Guaranty Trust Bank led the top five traders with 45.994 million shares worth N2.245 billion, Access Bank Plc followed with 28.667 million shares at N383.48 million.

The third place was occupied by FBN Holdings with 25.418 million shares valued at N4.685 million, while Courtville Solutions traded 15.36 million shares valued at N4.68 million shares. United Bank for Africa traded 13.57 million shares at N173.86 million.