NSE market capitalisation inches N156bn after Christmas holidays



Trading resumed on the Nigerian Stock Exchange (NSE) on Friday after the Christmas holidays on a positive note with the market capitalisation increasing by N156 billion, amid Nestle gain.

Specifically, the market capitalisation of listed equities rose by N156 billion to close at N12.752 trillion from N12.596 trillion achieved on Tuesday.

Also, the All-Share index which opened trading at 26,090.88 inched 325.60 points or 1.25 per cent to close higher at 26,416.48.

Nestle led the gainers’ table, increasing by N130 to close at N1,430 per share.

Stanbic IBTC followed with a gain of N2.60 to close at N39, while UACN gained 45k to close at N8.55 per share.

NASCON improved by 40k to close at N12.90, while UPDC REITS added 35k to close at N4.30 per share.

Conversely, Guinness recorded the highest loss to lead the losers’ table, dropping by N2 to close at N30.05 per share.

May & Baker trailed with a loss of 21k to close at N1.93, while Unilever dropped 15k to close at N22 per share.

Sterling Bank was down by 11k to close at N1.94, while Oando dropped 7k to close at N3.63 per share.

In spite of the increase in market indices, the volume of shares traded declined by 31.41 per cent.

Consequently, investors traded 222.51 million shares valued at N3.04 billion in 2,540 deals.

This was against a turnover of 324.40 million shares worth N1.66 billion exchange in 1,993 deals on Tuesday.

The financial service sector maintained leadership as the most active with Access Bank emerging the most sought, trading 42.03 million shares valued at N418.41 million.

United Bank for Africa came second with an account of 28.37 million shares worth N196.33 million, while Guaranty Trust Bank sold 22.78 million shares valued at N660.52 million.

Jaiz Bank traded 22.49 million shares worth N14.02 million, while Sterling Bank accounted for 15.57 million shares valued at N29.47 million. (NAN)