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Market upbeat continues, share value rises further by N30bn

By Michael Eboh
The upward trend in  the  Nigeria Stock Exchange (NSE) continued, Monday, as the value of listed equities appreciated by N29.57 billion.

okerekeIn particular, the value of listed equities, represented by the market capitalisation, rose by 0.56 per cent from N5.284 trillion at which it opened, to close at N5.314 trillion. The All-share index also rose by 0.56 per cent to close at 22,183.80 points from 22,060.36 points at which it opened.

The rise in the capitalisation and index was occasioned by gains on the share prices of majority of the listed equities, Unilever Nigeria Plc recording the most price gain, rising by N1.00 to close at N24.50 per share, Benue Cement Company Plc followed with a gain of N0.80 to close at N50.80 per share and Ashaka Cement Plc garnered N0.62 to close at N13.02 per share.

On the contrary, Northern Nigeria Flour Mills Plc recorded the most share price loss, dropping by N1.14 to close at N21.80 per share, Incar Plc followed with a loss of N0.15 to close at N2.91 per share and Beco Petroleum Products Plc dipped by N0.12 to close at N2.29 per share.

The upward trend also continued in equity trading, as a turnover of 369.48 million shares valued at N1.61 billion was recorded in 7,183 deals, rising by 4.72 per cent from the Friday’s turnover of 352.82 million shares valued at N2.24 billion in 6,881 deals.

The Banking sub-sector recorded the highest patronage in the sectorial analysis, accounting for 52.1 per cent of the total market turnover, with 192.58 million shares valued at N1.05 billion in 3,485 deals.  Shares of Fidelity Bank Plc were the most sought after in the sub-sector, with the exchange of 42.84 million shares valued at N111.6 million in 151 deals, BankPHB Plc followed with the trading of 30.43 million shares valued at N60.41 million in 299 deals and Zenith Bank Plc recorded 18.85 million shares valued at N299.86 million in 246 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 11.65 per cent of the market turnover, with 43 million shares valued at N40.08 million in 412 deals. Mutual Benefits Assurance Plc recorded the highest patronage in the sub-sector, trading 7.78 million shares valued at N4.98 million in 45 deals, International Energy Insurance Plc followed with the exchange of 6.92 million shares valued at N4.2 million in 27 deals and Lasaco Assurance Plc recorded 6.16 million shares valued at N3.37 million in 54 deals.


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