NSE Market Value Hits N13.136trn as Bulls Remain Hyperactive

By Dipo Olowookere

The market value of stocks on the Nigerian Stock Exchange (NSE) crossed over to the N13 trillion region on Friday after the bulls further tightened their grip on the market.

This subsequently increased the market capitalisation by N233 billion to N13.136 trillion from N12.903 trillion. It further expanded the All-Share Index (ASI) by 446.36 points to 25,204.75 points from 24,758.39 points.

During the session, the volume of stocks transacted by investors decreased by 26.00 percent, just as the value of equities traded dropped 22.26 percent, with the number of deals rising by 6.99 percent.

A total of 259.6 million shares worth N2.9 billion exchanged hands in 5,605 deals as against the 350.8 million units valued at N3.7 billion transacted the previous day in 5,239 deals.

UBA was the most active stock on Friday, selling 49.2 million shares worth N330.9 million, while Zenith Bank transacted 45.0 million stocks valued at N756.6 million.

FBN Holdings traded 30.1 million equities worth N156.8 million, GTBank exchanged 11.9 million stocks for N281.8 million, while Lafarge Africa traded 11.6 million stocks for N131.5 million.

For a further session, all the key sectors closed positive with the industrial goods leading the pack with a 5.94 percent advancement.

The oil/gas index grew by 3.11 percent, the consumer goods space appreciated by 1.51 percent, the banking counter increased by 0.25 percent, while the insurance sector gained 0.06 percent.

The gains posted by these sectors lifted the market by 1.80 percent during the session after 28 stocks grew in price, while 16 equities suffered various degrees of losses.

Mobil Oil was the highest price riser, appreciating by N19.40 to sell at N213.90 per share, while MTN Nigeria followed with a gain of N4 to trade at N115 per unit.

BUA Cement improved at the session by N3.40 to quote at N39 per share, Nigerian Breweries rose by N2 to finish at N39.50 per unit, while Conoil grew by N1.90 to N21 per share.

On the losers’ chart, Stanbic IBTC claimed the top spot with a price depreciation of 30 kobo to settle at N32.55 per unit, while Caverton followed with a loss of 29 kobo to quote at N2.61 per share.

GTBank lost 25 kobo to sell at N23.75 per unit, FBN Holdings depreciated by 15 kobo to finish at N5.20 per share, while May & Baker dropped 9 kobo to trade at N3.06 per unit.