Market Capitalisation improves by N186bn

Transactions at the Nigerian Stock exchange (NSE) on Wednesday continued in an upward trend with the Market Capitalisation appreciating by N186 billion.

In specific terms, the value of equities rose by 2.25 per cent to close at N8.730 trillion against the N8.544 trillion achieved on Tuesday.

Also, the All-Share Index, which opened at 24,838.31 appreciated by 468.52 points or 2.25 per cent to close at 25,306.52 points amid gains recorded by blue chips equities.

Market analysts attributed the growth to the end of month realignment activities embarked upon by some investors and traders.

Dangote Cement Plc topped the gainers’ table, growing by N11.17 or 7.51 percent to close at N160.00 per share, while Zenith Bank Plc followed with 55 kobo or 4.96 percent to close at N11.63 and Nigerian Breweries Plc increased by 48 kobo or 0.47 percent to close at N102.00 per share.

ETI increased by 43 kobo or 2.45 percent to close at N18.01, while WAPCO went up by 35 kobo or 0.43 percent to close at N82.00 per share.

Conversely, Forte Oil Plc recorded the highest loss for the day, dropping by N15.43 or five percent to close at N293.23 per share.

Total Oil Plc trailed with N7.25 or five percent to close at N137.75 while Zenith International Breweries Plc dropped by 97 kobo or 4.97 percent to close at N18.53 per share.

Stanbic IBTC Bank Plc depreciated by 45 kobo or 3.08 percent to close at N14.15 per share and Vitafoam Plc declined by 22 kobo or 4.80 percent to close at N4.36 per share.

Investors exchanged 275.87 million shares valued at N1.63 billion in 3,344 deals.