Modupe Gbadeyanka
By Modupe Gbadeyanka
The market capitalisation of the Nigerian Stock Exchange (NSE) crossed the N13 trillion mark last Friday after going up by N49 billion. The total value of shares on the exchange increased to N13.020 trillion.
It was the second straight day the nation’s stock market was performing well after the New Year holiday. It appreciated on that day by 0.38 percent to increase the All Share Index (ASI) by 101 points to 26,968.79 points from 26,867.79 points.
Okomu Oil ended the session on top of the gainers’ chart after adding 90 kobo to its share price to close at N56.50 per share, while GTBank also gained 90 kobo to close at N30.10 per share.
Other gainers last Friday were Zenith Bank, which rose by 55 kobo to N19.25 per share, Ecobank appreciated by 40 kobo to N6.95 per share, while UBA gained 30 kobo to close at N7.50 per share.
However, it was not a good day for Nigerian Breweries as its share price went down by N2.90 to close at N56.10 per share, with Interlinked Technologies losing 29 kobo to close at N2.91 per share.
Oando also lost 29 kobo to drop to N3.70 per share, GlaxoSmithKline declined by 25 kobo to close at N5.25 per share, while Fidson Healthcare depreciated by 10 kobo to N2.70 per share.
Business Post reports that the activity level was mixed last Friday with the volume of shares rising by 130.54 percent from 264.1 million to 608.9 million, while the value reduced by 28.10 percent from N5.2 billion to N3.8 billion.
Niger Insurance topped the activity chart with 127.3 million shares sold for N28.0 million, while Veritas Kapital exchanged 121.2 million shares valued at N24.2 million. Zenith Bank traded 63.5 million worth N1.2 billion, UBA traded 46.0 million shares for N340.7 million, while Japaul Oil exchanged 30.2 million equities worth N6.0 million.
The market is anticipated to maintain the positive trend this week as investors begin to rebalance their portfolio and buy up some undervalued stocks.
