By Dipo Olowookere
The market capitalisation of the Nigerian Stock Exchange (NSE) hit the N22 trillion region on Thursday, buoyed by the continued interest in the local market.
During the session, the total value of stocks on the bourse increased by N125 billion to settle at N22.059 trillion in contrast to N21.934 trillion it closed the preceding day.
Business Post reports that yesterday, the exchange appreciated by 0.57 per cent and this expanded the All-Share Index (ASI) by 238.68 points to finish at 42,169.41 points compared with the previous day’s 41,930.73 points.
The growth witnessed on Thursday was influenced by gains in the banking, consumer goods and industrial goods sectors, which closed higher by 2.11 per cent, 0.94 per cent and 0.21 per cent respectively.
The performance of the above three counters outweighed the losses printed by the oil/gas and insurance sectors, which closed lower by 1.75 per cent and 0.56 per cent respectively.
The activity chart was mixed as the trading volume appreciated by 2.16 per cent to 555.3 units from 543.6 million, while the trading value depreciated by 21.28 per cent to N5.8 billion from N7.3 billion, with the number of deals declining by 5.67 per cent to 6,386 deals from 6,770 deals.
The most active stock on Thursday was still Transcorp, which traded 76.2 million shares worth N81.8 million. Union Bank traded 75.9 million stocks valued at N432.8 million, Zenith Bank exchanged 35.2 million equities worth N936.8 million, Dangote Sugar sold 31.7 million shares valued at N660.3 million, while UAC Nigeria traded 25.3 million equities worth N203.9 million.
On the price movement chart, Stanbic IBTC topped the gainers’ table with a price appreciation of N2.60 to settle at N46.60 per unit.
Julius Berger gained N2.05 to finish at N22.65 per share, Nigerian Breweries grew by N2 to quote at N63 per unit, GTBank appreciated by 80 kobo to sell at N34 per share, while Zenith Bank gained 80 kobo to trade at N27.20 per unit.
At the opposition end, Mobil Oil led the losers’ gang with a price depreciation of N21.50 to close at
N228 per share, Cadbury Nigeria lost 70 kobo to trade at N8.90 per unit, Ardova declined by 50 kobo to sell for N17.50 per share, NEM Insurance decreased by 18 kobo to N2.20 per unit, while Livestock Feeds went down by 10 kobo to N2.49 per share.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
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