Nigeria bourse opens on positive trend, market capitlaisation inches N52bn

The market capitalisation of the Nigerian Stock Exchange (NSE) resumed trading for the week on Monday with a growth of N52 billion.

Specifically, the market capitalisation which opened at N12.799 trillion inched N52 billion or 0.41 per cent to close at N12.851 trillion.

Also, the All-Share Index rose by 107.76 points or 0.41 per cent to close at 26,401.06 in contrast with 26,293.30 achieved on Friday.

An analysis of the price movement table shows that Stanbic IBTC led the gainers’ table, improving by N2 to close at N37 per share.

Guaranty Trust Bank Plc followed with 90k to close at N26.10, while Cement Company of Northern Nigeria improved by 50k to close at N16.40 per share.

United Bank for Africa also garnered 50k to close at N6.30, while Access Bank increased by 30k to close at N8.10 per share.

Conversely, Unilever recorded the highest loss, dropping N2.65 to close at N24.05 per share.

MRS trailed with a loss of N1.65 to close at N15.30, while International Breweries lost N1.25 to close at N11.35 per share.

Ecobank Transnational was down by 60k to close at N6.50, while UPDC also dipped by 45k to N4.45 per share.

In the same vein, the volume of shares transacted rose by 45.89 per cent as investors bought and sold 368.18 million shares worth N2.77 billion in 3,473 deals.

This was in contrast with a turnover of 252.37 million shares valued at N3.75 billion exchanged in 2,872 deals on Friday.

Access Bank was the toast of investors, trading 80.57 million shares worth N650.01 million.

Law Union and Rock followed with an account of 79.20 million shares valued at N33.32 million, while United Bank for Africa sold 55.44 million shares worth N348.52 million.

Zenith International Bank traded 45.53 million shares valued at N777.18 million, while Lafarge Africa traded 13.66 million shares worth N191.30 million.