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Listing, blue chip gains buoy share value by N37bn

By Michael Eboh
Buoyed by gains on the share prices of blue chip companies and listing of Equity Assurance Plc and Ecobank Transnational Incorporated’s (ETI) shares, the value of listed equities on the Nigerian stock Exchange (NSE) appreciated further, Wednesday, by N36.71 billion.

In particular, the value of listed equities, represented by the market capitalisation soar by 0.63 per cent to N5.907 trillion from N5.871 trillion at which it opened, while the All-share index, another performance indices, also appreciated by 0.28 per cent to close at 24,447.85 points from 24,380.09 points.

Shares of  Equity Assurance Plc, totaling 1.139 billion units, being shares from its recently concluded offer for subscription, were admitted to the Daily Official List of the NSE, while ETI’s  1.181 billion shares, being shares issued to the International Finance Corporation (IFC) at N16.58 per share, were admitted to the Daily official list.

Also, gains by blue chip stocks, led by Total Nigeria Plc, contributed to the improvement recorded in the value of total listed equities. Total recorded a share price gain of N7.12 to close at N149.62 per share, Benue Cement Company Plc followed with a gain of N3.08 to close at N64.78 per share, while Flour Mills Nigeria Plc garnered N2.41 to close at N50.72 per share.

Other share price gainers include: Glaxo SmithKline Consumer Plc N1.31, UAC Property Development Company Plc N1.00, Ashaka Cement Plc N0.89, Cement Company of Northern Nigeria Plc N0.85, Dangote Flour Mills Plc N0.76, African Petroleum Plc N0.50, Ecobank Transnational Incorporated N0.42 among others.

On the contrary, Oando Plc recorded the most share price loss, dropping by N2.59 to close at N78.01 per share, Nigerian Breweries Plc followed with a loss of N1.00 to close at N58.12 per share and Unilever Nigeria Plc dipped by N0.67 to close at N26.23 per share.

other share price losers include: Union Bank Nigeria Plc N20k, United Bank for Africa Plc N18k, National Sport Lottery Technology Plc N17k, Costain Nigeria plc N14k, Champion Nigeria Plc N13k, Prestige Nigeria Plc N12k and Zenith Bank Plc N12k, among others.

Moreover equity trading appreciated by 49.59 per cent, as a turnover of 422.16 million shares valued at N6.654 billion was recorded in 8,795 deals, in contrast to Monday’s turnover of 422.16 million shares valued at N3.551 billion in 6,927 deals.

The Banking sub-sector recorded the most patronage, accounting for 52.08 per cent of the market turnover, with 328.9 million shares valued at N3.146 billion in 4,762


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