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Blue chips’ gains buoy market value by N154bn

By Michael Eboh
The upward trend in the  market indices continued, Monday, as gains on the share prices of majority of the listed companies, shored up the value of listed equities by N154.278 billion.

Okereke
Okereke

Particularly, the value of listed equities, represented by the market capitalisation and All-share index rose by 2.81 per cent, engendered by low prices of quoted stocks and increase in liquidity, brought about by recent measures introduced by the Central Bank of Nigeria (CBN).

The capitalisation which opened at N5.484 trillion rose by N154.2 billion to close at N5.638 trillion, while the index rose by 672.98 basis points to close at 24,597.08 points from 23,924.10 points at which it opened.

Oando Plc recorded the most share price gain, rising by N4.72 to close at N99.19 per share, Nigerian Breweries Plc followed with a gain of N2.22 to close at N58.00 per share and Benue Cement Company Plc garnered N1.89 to close at N39.69 per share.

Other share price gainers include: Julius Berger Nigeria Plc N1.18, Flour Mills Nigeria Plc N.04, Lafarge Cement WAPCO Plc N0.79, Dangote Sugar Refinery Plc N0.77, Glaxo SmithKline Consumer Plc N0.77, First Bank of Nigeria Plc N0.74, Ecobank Transnational Incorporated N0.67 among others.
Conversely, Seven-up Bottling Company Plc recorded the most share price loss, dropping by N1.71 to close at N32.55 per share, UAC Nigeria Plc followed with a loss of N1.65 to close at N37.75 per share and GTBank Plc dipped by N0.59 to close at N14.00 per share.

Other share price gainers include: Cement Company of Northern Nigeria Plc N0.40, University Press Plc N0.36, Presco Plc N0.35, PZ Cussons Nigeria Plc N0.32, Nestle Nigeria Plc N0.25, Poly Products Plc N0.25, AG. Leventis Plc N0.12 among others.

Equity trading appreciated by 15.21 per cent, as a turnover of 443.08 million shares valued N2.99 billion was recorded 7,676 deals, in contrast to Friday’s turnover of 384.6 million shares valued at N2.43 billion in 6,361 deals.

The Banking sub-sector recorded the most patronage in the sectorial analysis, accounting for 46.11 per cent of the market turnover, with 204.31 million shares valued at N1.64 billion in 3,247 deals. Zenithy Bank Plc emerged the most active in the sub-sector, trading 32.26 million shares 410.37 million in 194 deals, followed by Access Bank Plc with the exchange of 28.33 million shares valued at N195.44 million in 299 deals and Wema Bank Plc recorded 19.78 million shares valued at N47.29 million in 90 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 13.99 per cent of the market turnover, with 62.01 million shares valued at N60.64 million in 1,169 deals.


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