Breaking News
Translate

Equities value grows by N623bn in one week

By CHINEDU IBEABUCHI

The value of equities listed on the Nigerian Stock Exchange, NSE, recorded an appreciable increase last week, occasioning the market capitalisation to rise by N623 billion.

The market capitalization, which opened at N10.602 trillion, appreciated by 5.9 per cent, to close at N11.23 trillion, while the All-Share Index also rose by 1,950.25 points or 5.8 percent to close at 35, 109.33 points from 33,159.08 points.

This was driven by share price rise in forty three equities, led by Dangote Cement Plc, which gained N26.15 to close at N185.00 per share from N158.85 per share. This was followed by Guinness Nigeria Plc that appreciated by N20.98 to close at N274.02 per share and Nestle Nigeria Plc that rose by N12.00 to close at N910.00 per share.

However, twenty five equities recorded price depreciations. Total Nigeria Plc topped the losers chart, depreciating by N14.00 to close at N143.00 per share. This was followed by Mobil Oil Nigeria Plc with loss of N4.80 to close at N114.00 per share and GlaxoSmith Consumer Nigeria Plc, which lost N1.75 to close at N47.25 per share.

Meanwhile, equities transaction declined by 14.1 percent in the week under review, recording 1.51 billion shares valued at N15.87 billion in 20,968 deals, in contrast to a turnover of 1.758 billion shares valued at N17.898 billion in 23,958 deals transacted in penultimate week.

At the close of trading activities for the week, the Financial Services sector came top and accounted for 1.26 billion shares valued at N10.86 billion, which changed hands in 12,786 deals. Consumer Goods sector followed in the activity chart with 48.20 million shares valued at N3.22 billion traded in 3,427 deals.

Similarly, the banking sub-sector of the Financial Services sector was the most active during the week with 1.09 billion shares worth N8.88 billion traded in 8,818 deals. Volume in the banking sub-sector was largely driven by activities in the shares of United Bank for Africa Plc, Unity Bank Plc and Skye Bank Plc. Trading in the shares of the three banks accounted for 629.97 million shares worth N3.41 billion exchanged by investors in 2,418 deals, thereby contributing 57.8 percent to the total equity turnover volume recorded during the week.


Disclaimer

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