Market Capitalisation Gains N17bn At Exchange

The performance of traded equities on the floor of the Nigerian Stock Exchange (NSE) was on the average compared to recent transactions, pointing to recovery of investors from subsidy removal and its related crisis.

Market closed on a positive note Friday as the market capitalisation gained N17.5 billion with other market indicators appreciating to close the week’s trading.

Market capitalisation closed higher at N6.58 trillion, as against N6.56 trillion traded by investors on Thursday.

All-Share Index gained 55.64 points or 0.27 per cent to close higher at 20,877.64 points, compared to 20,822.00 points traded last Thursday.

Investors traded a total of 425,388,693 shares worth N2.5 billion in 3758 deals, as against 320,136,730 shares, valued at N3.8 billion, which exchanged hands in 3,715 deals.

The volume of traded shares appreciated by 105,251,963 shares or 32.9 per cent to close higher at 425,388,693 shares, compared to 320,136,730 shares traded by investors on Thursday.

Traded equity value, however, declined by 344.5 per cent or N1.3 billion to close lower at N2.5 billion compared to N3.8 billion traded on the floor of the Exchange on Thursday.

Newgold gained N38 per share to lead the gainers table as Oando, Guaranty and Berger followed after making 80 kobo, 55 kobo and 43 kobo respectively.

On the other hand, Chevron, Julius Berger, Cap and Cadbury all lost N2.52, 89 kobo, 72 kobo and 48 kobo per share, respectively to be the first four on the losers chart.