Nigeria equity market sustains growth, capitalisation grosses N74bn

The Nigeria equity market on Tuesday improved further by 0.66 per cent, just as the market capitalisation rose by N74 billion due to price growth by some blue chips.

Our correspondent reports that Okomu Oil Palm recorded the highest gain, improving by N2.83 to close at N59. 48 per share.

Dangote Cement came second with a growth of N1.28 to close at N206.21 and Nigerian Breweries garnered N1.25 to close at N154.26 per share.

Guaranty Trust Bank appreciated by 89k to close at N35.51, while Zenith International Bank inched 71k to close at N22.02 per share.

Consequently, the market capitalisation increased by N74 billion or 0.66 per cent to close at N11.314 trillion, as against the N11.240 trillion posted on Monday.

In the same vein, the All-Share Index which opened at 32,614.60, rose by 213.98 points to close at 32,827.98.

Conversely, Total topped the laggards’ chart for the day, declining by N6.01 to close at N259.99 per share.

Presco trailed with a loss of N3.39 to close at N64.54 and Guinness lost N2 to close at N60 per share.

Unilever was down by N1 to N33, while Stanbic IBTC declined by 74k to close at N30.26 per share.

It was also reported that the turnover in the volume of shares traded appreciated by 20.15 per cent, with an exchange of 218.76 million shares valued at N2.11 billion, traded in 4,991 deals.

This was against the 182.07 million shares worth N2.03 billion transacted in 3,710 deals on Monday.

United Bank for Africa (UBA) emerged the toast of investors, accounting for 35.26 million shares valued at N316. 99 million.

Niger Insurance sold 19.99 million shares worth N9.99 million, while Zenith Bank exchanged 18.28 million shares valued at N401.29 million.

Diamond Bank traded 14.59 million shares worth N18. 11 million and investors staked N15.01 million on 12.19 million shares of FCMB Group.