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Trading resumes on bullish note, equities’ value rises by N85bn

By Michael Eboh
Trading on the Nigerian  Stock Exchange (NSE) resumed the week on a bullish note as the value of listed equities appreciated by N85.26 billion.

Particularly, the value of listed equities, represented by the market capitalisation, appreciated by 1.68 per cent, from N5.082 trillion at which it opened, to close at N5.167 trillion.

The All-share index, another key market indicator, also appreciated by 1.68 per cent, from 21,870.12 points at which it opened, to close at 22,236.99 points.There was no trading, Monday and Tuesday, as both days were declared as public holidays by the Federal Government to mark the Muslim festival.

The rise in the market indices was occasioned by gains on the share prices of blue chip companies, with UAC Nigeria Plc recording the most share price gain, rising by N1.79 to close at N37.70 per share, Guinness Nigeria Plc followed with a gain of N1.55 to close at N144.55 per share and Lafarge Cement WAPCO Plc garnered N1.55 to close at N32.55 per share.

On the contrary, Conoil Plc recorded the most share price loss, dropping by N1.96 to close at N37.31 per share, Ecobank Nigeria Plc followed with a loss of N1.19 to close at N22.80 per share and Cement Company of Northern Nigeria Plc dipped by N0.73 to close at N14.25 per share.

However, equity trading dipped by 26.54 per cent, as a turnover of 454.74 million shares valued at N2.99 billion was recorded in 6,180 deals, in contrast to Friday’s turnover of 619.01 million shares valued at N4.2 billion in 6,115 deals.

Driven by increased activity in the shares of Access Bank Plc, the Banking sub-sector dominated the other sub-sectors, accounting for 69.98 per cent of the market turnover, with 318.22 million shares valued at N2.34 billion in 3,281 deals.

Access Bank recorded a turnover of 121.19 million shares valued at N668.28 million in 298 deals, followed by First Bank of Nigeria Plc, with the exchange of 33.93 million shares valued at N541.93 million in 796 deals.and Zenith Bank Plc exchange 28.72 million shares valued at N376.76 million in 144 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 17.79 per cent of the market turnover, 80.91 million shares valued at N55.26 million 375 deals. Equity Assurance Plc recorded the highest patronage in the sub-sector, trading 25.11 million shares valued at N12.56 million in seven deals, followed by NEM Insurance Company Plc, with the exchange of 10.9 million shares valued at N6.18 million in 49 deals and Lasaco Assurance Plc recorded 8.73 million shares valued at N4.62 million in two deals.


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