Connect with us

Economy

Transactions close upbeat on NSE, market capitalisation inches N62bn

Published

on

Activities on the nation’s bourse closed upbeat on Thursday with the market capitalisation growing by N62 billion, reversing the previous three consecutive trading days losses.

Specifically, the market capitalisation inched N62 billion to close at N13.110 trillion compared with N13.048 trillion on Wednesday.

Also, the All Share Index which opened at 29,609.90 rose by 140.35 points or 0.47 per cent to close at 29,749.35.

The upturn was significantly impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Seplat Petroleum Development Company (Seplat), International Breweries, Cement Company of Northern Nigeria and Dangote Cement.

Analysts at APT Securities and Funds Limited said, “We retain our cautious trading advice in the short run. However, accumulation of fundamentally justified and dividend paying stocks for mid to long term is recommended.”

Also, analysts at Cordros Capital stated that, “Our outlook for equities in the short to medium term remains conservative, amidst absence of a positive catalyst.”

CCNN recorded the highest price gain of 10 per cent, to close at N13.20 per share.

BOC Gases Nigeria followed with a gain of 9.84 per cent to close at N4.13, while International Breweries appreciated by 9.58 per cent to close at N18.30 per share.

Courteville Business Solutions went up by 8.70 per cent to close at 25k, while Consolidated Hallmark Insurance appreciated by 8.33 per cent to close at 26k per share.

Conversely, Forte Oil led the losers’ chart with 9.87 per cent, to close at N27.40 per share.

Berger Paints followed with a decline of 9.79 per cent to close at N6.45, while Nigerian Breweries declined by 7.26 per cent to close at N57.50 per share.

Sterling Bank depreciated by 6.38 per cent to close at N2.20 and Transnational Corporation of Nigeria (Transcorp) declined by 4.39 per cent to close at N1.09 per share.

However, total volume traded depreciated by 23.57 per cent to 301.18 million shares worth N5.03 billion, achieved in 4,187 deals.

This was against the 394.06 million shares valued at N3.27 billion transacted in 3,377 deals on Wednesday.

Transactions in the shares of Transcorp topped the activity chart with 45.97 million shares valued at N48.91 million.

Guaranty Trust Bank came second with 31.9 million shares worth N978.97 million, while Access Bank traded 31.76 million shares valued at N210.19 million.

FBN Holdings sold 28.73 million shares worth N193.08 million, while Zenith Bank accounted for 23.34 million shares valued at N464.80 million.

Contact US: editor@nnn.com.ng, nnnnews247@gmail.com

Recent Posts

January 2020
M T W T F S S
« Dec    
 12345
6789101112
13141516171819
20212223242526
2728293031  

NNN News Nigeria: NNN is an online Nigeria news portal that publishes breaking news in politics, business, entertainment, sport, security, features, opinion, environment, education, technology, and the world news at large. NNN publishes only news that is factual, credible, verifiable, authoritative and investigative. NNN is a media subscriber of the News Agency of Nigeria. NNN is a unique media organization that is founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favor. Contact: editor@nnn.com.ng

© 2014 - 2019 NNN News Nigeria. All Rights Reserved.

editor@nnn.com.ng