Market capitalisation on the Exchange hits N6.7tr

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THE Nigerian Stock Exchange (NSE), started the week yesterday, on a busy note, as investors traded 450.43 million shares valued at N3.86 billion in 10,168 deals, with market capitalization going up to N6.7 trillion.

The excitement in the market, according to some stockbrokers, was not unconnected with the presence of the NSE president, Dr. Oba Otudeko and a delegation from Ogun State, led by its governor, Otunba Gbenga Daniel.

Specifically, yesterday’s trading activities, contrasted with the 340.82 million shares valued at N2.43 billion traded in 9,403 deals on Friday.

Also, market capitalisation went up by N16 billion to close at N6.708 trillion against the N6.548 trillion recorded by the Exchange on Friday.

All-share index gained weight by 701.93 points to close at 29,415.60 against the 28,713.67 achieved on June 12.

As usual, the banking sub-sector was the most active trading 240.86 million shares worth N2.65 billion in 5,894 deals.

The shares of the sub-sector was boosted by trading in the shares of First Bank of Nigeria, which sold 29.3 million shares valued at N707.43 million 1,263 deals.

In the insurance sub-sector, investors exchanged 77.9 million shares worth N98.77 million in 1,005 deals, while the food, beverages and tobacco sub-sector traded 41.75 million shares valued at N573.76 million, in 723 deals.

Oando Nigeria Plc led the gainers’ table with N4.10 to close at N86.27 per share.

AP appreciated by N4.01 to close at N94.00 while Conoil gained N2.99 to close at N62.85 per share and Guinness which opened at N118.02 closed at N1.98.

Seven-Up led the losers’ table losing by N1.90 to close at N36.10 per share.

Okomu Oil went down by N1.39 to close at N26.51, while Julius Berger lost by N0.92 to close at N36.59 per share