Stock Market

NSE hits N13trn mark

Market capitalisation on the Nigerian Stock Exchange appreciated by N164 billion or 1.27 percent to close at N13.097 trillion against N12.933 trillion it closed at on Monday.

The last time market capitalisation hovered around N13 trillion was in September 2014 when the average market cap was N13.5 trillion.

The All Share Index (ASI) also improved by 474.12 points to close at 37,999.50 compared with 37,525.38 points posted on Monday.

The stock exchange market has been on a gaining streak for weeks since the announcement of the Central Bank of Nigeria (CBN) monetary policy committee decision, hitting an all year high of N12.08 trillion at that time.

Nestle topped the gainers’ table with a gain of N94.93 to close at N1,154. 93, following investors’ reactions to its half year earnings released recently in the market.

Nigerian Breweries followed with a gain of N9.05 to close at N190.05 and Guinness gained N7.38 to close at N79.38 per share.

7UP increased by N3.30 to close at N98, while Okomu Oil Palm appreciated by N2.72 to close at N72.72 per share.

On the other hand, Presco posted the highest loss to lead the losers’ chart, dropping by N3.73 to close at N70.78 per share.

Conoil trailed with a loss of N1.82 to close N34.58 and Total was down by N1.50 to close at N260 per share.

Dangote Cement dipped 79k to close at N240, while Zenith International Bank declined by 60k to close at N24.50 per share.

However, the volume of shares traded closed lower as investors bought and sold 218.22 million shares valued at N5.07 billion exchanged in 5,336 deals.

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