Breaking News

Share value rises further by N139bn

By Michael Eboh
The upward trend in the Nigerian Stock Exchange (NSE) continued, Tuesday, as the value of listed equities appreciated by N139.24 billion.

In particular, the market capitalisation, representing the value of listed equities, rose by 2.23 per cent to N6.388 trillion from N6.249 trillion at which it opened the day’s trading. The All-share index garnered 575.68 basis points to close at 26,411.97 points from 25,836.29 poaints.

Equity trading, however, dipped by 11.08 per cent, as a turnover of 497.13 million shares valued at N4.2 billion was recorded in 10,034 deals, in contrast to the previous day’s turnover of 559.06 million shares valued at N5.29 billion in 8,073 deals.

Investors’ preference for banks’ shares buoyed trading on the NSE, as transactions in the sub-sector accounted for 49.43 per cent of the total market turnover, with the exchange of 245.73 million shares valued at N2.56 billion in 4,197 deals. Fidelity Bank Plc’s shares were the most sought after in the sub-sector, trading 47.78 million units valued at N170.5 million in 322 deals, GTBank Plc followed with the exchange of 29.27 million shares valued at N643.45 million in 388 deals and First Bank of Nigeria Plc recorded 24.74 million shares valued at N398.81 million in 1,005 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 22.64 per cent of the market turnover, with 112.67 million shares valued at N133.26 million in 1,845 deals. AIICO Insurance Plc enjoyed the most patronage in the sub-sector, trading 24.02 million shares valued at N29.28 million in 1,245 deals, Guaranty Trust Assurance Plc followed with the exchange of 13.1 million shares valued at N45.68 million in 84 deals and African Alliance Insurance Plc recorded 11.75 million shares valued at N5.88 million in seven deals.
Guinness Nigeria Plc led 74 other companies on the share price gainers’ table, rising by N6.65 to close at N139.65 per share.

Flour Mills Nigeria Plc followed with a gain of N3.08 to close at N64.27 per share and UAC Nigeria Plc garnered N2.10 to close at N53 per share.

Other share price gainers include: Oando Plc N2.00, Benue Cement Company Plc N1.80, Nigerian Bottling Company Plc N1.63, PZ Cussons Nigeria Plc N1.57, Julius Berger Nigeria Plc N1.57, Unilever Nigeria Plc N1.29, UAC Property Development Company Plc N1.09 among others.

On the contrary, African Petroleum Plc led 23 other companies on the price losers’ category, with a loss of N2.15 to close at N40.98 per share, Glaxo SmithKline Consumer Plc followed with the loss of N0.95 to close at N28.50 per share and Nigerian Breweries Plc dipped by N0.59 to close at N63.40 per share.

Other share price losers include: Beta Glass Company Plc N0.54, Diamond Bank Plc N0.30, Union Dicon Salt Plc N0.25, Afribank Nigeria Plc N0.13, Skye Bank Plc N0.10, First City Monument Bank Plc N0.05, BankPHB Plc N0.05 among others.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.