The market capitalisation of the Nigerian Stock Exchange (NSE) yesterday rose by N170 billion following huge gain posted by company stocks with strong fundamentals led by Foods and Beverages giant, Nestle Nigeria Plc.
The market value inched by 1.15 percent, representing N170 billion to close at N14.940 trillion against the N14.770 trillion achieved on Thursday. Similarly, the All-Share Index (ASI), which opened at 40,777.67, rose by 467.22 points or 1.15 per cent to close at 41,244.89, amid price gains.
Nestle led the gainers’ table with a gain of N46.80 to close at N1,615 per share. International Breweries followed with a gain of N4.80 to close at N51.80, while Mobil Oil garnered N4.40 to close at N174.40 per share.
Nigerian Breweries appreciated by N3 to close at N130, while Julius Berger added N1.25 to close at N26.90 per share.
Conversely, Forte Oil posted the highest loss to lead the losers’ chart, dropping N2.35 to close at N42.20 per share.
Cadbury trailed with a loss of 70 kobo to close at N13.80, while NPF Microfinance Bank was down by 9 kobo to close at N1.75 per share.
Unity Bank dipped 5 kobo to close at N1, while Zenith Bank also declined by 5 kobo to close at N27.40 per share.
In spite of the growth posted by market indices, the volume of shares traded closed lower with 319.34 million shares valued at N2. 79 billion in 3,863 deals.
This was against the 378.19 million shares worth N6.26 billion sold in 4,780 deals on Thursday.
Mutual Benefits Assurance was the toast of investors with a turnover of 112.97 million shares valued at N27.11 million.
FBN Holdings followed with 36.08 million shares worth N437.07 million, while Zenith Bank traded 32.18 million shares valued at N883.29 million, United Bank for Africa accounted for 26.59 million shares worth N305.06 million, while Skye Bank sold 15.63 million shares valued at N12.04 million.