NSE: Capitalisation gains N229 bn, fueled by 2018 earnings

The indices of the Nigerian Stock Exchange (NSE) maintained a positive trend on Thursday with the market capitalisation gaining N229 billion in one day, ahead of 2018 earnings season.

Specifically, the market capitalisation, which opened at N11.493 trillion increased by N229 billion or 1.98 per cent to close at N11.722 trillion, amid gains by blue chips.

Also, the All-Share Index rose by 616.69 points or 1.98 per cent to close at 31,433.49 compared with 30,821.80 achieved on Wednesday.

Nestle led the gainers’ table for the second consecutive days, growing by N10 to close at N1,470 per share.

Guaranty Trust Bank followed with a gain of N3.30 to close N38, while Forte Oil gained N2.70 to close at N29.70 per share.

Dangote Cement appreciated by N2 to close at N190, while Zenith Bank added N1.65 to close at N24.45 per share.

Conversely, Conoil recorded the highest loss during the day, shedding 25k to close N23 per share.

NEM Insurance trailed with a loss of 15l to close N2.30, while Learn Africa lost by 10k to close at N1.40 per share.

Trans Express was down by 6k to close at 60k, while Cutix dropped by 5k to close at N1.90 per share.

An analysis of the activity chart shows that United Bank for Africa was investors’ delight exchanging 136.50 million shares worth N987.08 million.

Zenith Bank followed with an account of 63.43 million shares valued at N1.49 billion, while Access Bank traded 44.43 million shares worth N277.87 million.

FBN Holdings sold 31.49 million shares valued at N236.26 million, while Guaranty Trust Bank exchanged 31.45 million shares worth N1.15 billion.

In all, the volume of shares traded inched by 21.63 per cent with an exchange of 436.75 million shares valued at N5.88 billion in 4,047 deals.

This was in contrast with a total of 359.09 million shares worth N4.83 billion traded in 3,319 deals on Wednesday.