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Market Capitalisation Appreciates by N68b

By Modupe Gbadeyanka

Equity transactions on the floor of the Nigerian Stock Exchange (NSE) closed positive on Tuesday with the market capitalisation growing by N67.8 billion to settle at N12.7 trillion.

Though investors are still treading carefully, the volume and value of shares traded today improved significantly.

At the close of business, a total of 259 million shares worth N3 billion were exchanged in 4,503 deals in contrast to 175 million shares valued at N1.8 billion sold in 3,401 deals.

Shares of Diamond Bank triggered the curiosity of investors, eventually trading 43 million units worth N42.6 million at the close of the day.

Fidelity Bank traded 31 million shares valued at N47.6 million, while FBN Holdings sold 21.5 million shares for N132 million.

Furthermore, Dangote Flour exchanged 19.7 million shares worth N184 million, and Transcorp transacted 19.3 million shares worth N27.2 million.

Business Post reports that the encouraging results of third quarter earnings of companies listed on the stock exchange have boosted the morale of investors and consequently pushed the All-Share Index (ASI) further by 0.54 percent or 195.99 points to settle at 36,680.29 points.

At the close of trading, Nestle added N22 to its share value to close at N1,252 per share. This came a day after the board proposed the payment of an interim dividend of N15 to its shareholders.

Seplat rebounded from yesterday loss to gain N15 today, closing at N495 per share, while Dangote Cement garnered N5 to finish at N224 per share.

CAP grew by N1.62k to end at N34.12k per share, and Flour Mills of Nigeria increased by N1.50k to close at N31.50k per share.

At the other end, Total Nigeria was the highest loser today, depreciating by N4 to settle at N236 per share.

It was followed by Beta Glass, which went down by N2.84k to finish at N54.1k per share, and Unilever, which slumped by N1.59k to end at N41.19k per share.

Nigerian Breweries fell by N1.50k to finish at N150 per share, while Forte Oil declined by 99k to close at N40 per share.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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