Trading reverses on NSE, market capitalisation increases by N33bn

Trading reverses on NSE, market capitalisation increases by N33bn

Activities on the Nigerian Stock Exchange (NSE) on Friday returned back on a positive territory with the market capitalisation increasing by N33 billion.

The News Agency of Nigeria (NAN) reports that the market capitalisation which opened at N13.133 trillion inched N33 billion or 0.25 per cent to close at N13.166 trillion.

Also, the All-Share Index rose by 95.75 points or 0.25 per cent to 38,198.60 compared with 38,102.85 achieved on Thursday.

A breakdown of the price movement chart indicated that Lafarge Africa lead the gainers’ table with a gain of N3 to close at N63 per share.

 

 

Unilever Nigeria trailed by N2.20 to close at N45.25, while Stanbic IBTC garnered N1 to close of at N41 per share.

Nigerian Breweries also gained N1 to close at N191 and Guinness appreciated by 50k to close at N91.50 per share.

Mr Ambrose Omordion, the Chief Executive Officer, InvestData Ltd., said that the market stock market succumbed on Aug. 10 to selling pressure due to profit taking to cash out on gains from the recent bull-run to halt the month-to-date seven-day rally.

Omordion said that profit taking was an integral part of any equity market especially in a recovering market.

 

 

On the other hand, Nestle topped the losers’ table declining by N8.01 to close at N120.80 per share.

Conoil trailed with a loss of N1.71 to close at N32.59 and 7UP Bottling lost N1.04 to close at N96.96 per share.

Guaranty Trust Bank shed 42k to close at N39.60, while Dangote Flour dipped 29k to close at N6.38 per share.

NAN reports that a total of 353.65 million shares valued at N6.30 billion were exchanged by investors in 4,079 deals.

 

 

This was against a turnover of 362.67 million shares worth N5.59 billion traded in 4,055 deals on Thursday.

Guaranty Trust Bank was the toast of investors having accounted for 61.83 million shares valued at N2.46 billion.

It was followed by UBA with 50.89 million worth N498.98 million, while Zenith international Bank sold 49.37 shares valued at N1.19 billion.

Access Bank accounted for 40.98 million shares worth N428.66 million and Fidelity Bank traded 20.38 million shares valued at N27.94 million. (NAN)

Leave a comment

Uju

Uju Valarie Ubatu, is a graduate of computer science, She is very vast on internet research and has a zeal for acquiring information from as many sources as possible.She loves to travel, meet people and watch programmes on TV.

No Comments Yet

Leave a Reply

Notable Saying

There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.
– Jeff Bezos.

The Heraldng

Stay in touch with us on your social networks and never again miss out on any updates.

FOLLOW US ON

Get Latest News Delivered to your Box ASAP
Skip to toolbar