NSE: Market capitalisation inches N3bn growth

The Nigerian Stock Exchange (NSE) ended Wednesday session with a marginal growth of 0.02 per cent.

Specifically, the All-Share Index improved by 5.29 points or 0.02 per cent to close at 26,665.73 against 26,660.44 achieved on Tuesday.

In the same vein, the market capitalisation garnered N3 billion or 0.02 per cent to close at N12.870 trillion against N12.867 trillion posted on Tuesday.

The upturn was largely boosted by capital appreciation recorded in the shares of mid and large capitalised stocks namely: Stanbic IBTC Holdings, Cadbury, Okomu Oil, Union Bank and PZ Cussons.

Analysts at Afrinvest Limited expected a mixed performance in the equity market in the near term as investor sentiment remained sour.

In spite of the marginal gain, market breadth closed slightly negative with 17 gainers, and posted 18 laggards.

Ikeja Hotel led the gainers’ table in percentage terms, improving by 9.80 per cent to close at N1.12 per share.

Chams followed with a gain of 9.09 per cent to close at 36k, while Cadbury rose by 7.58 per cent to close at N10.65 per share.

Royal Exchange grew by 7.41 per cent to close at 29k, while Union Bank appreciated by 4.62 per cent to close at N6.80 per share.

Conversely, UACN Property Development led the losers’ chart in percentage terms, dropping by 10 per cent to close at 90k per share.

UPDC Real Estate Investment Trust followed with a decline of 9.88 per cent to close at N3.65, while Arbico lost 9.77 to close at N3.51 per share.

Cornerstone Insurance declined by 8.93 per cent to close at 51k, while Wema Bank shed 5.41 per cent to close at 70k per share.

However, the volume of shares traded dropped by 29.89 per cent with a total of 232.68 million shares valued at N3.19 billion in 2,831 deals.

This was against a turnover of 331.92 million shares worth N4.78 billion transacted in 3,358 deals on Tuesday.

Transactions in the shares of Access Bank topped the activity chart with 64.2 million shares valued at N636.03 million.

Zenith Bank came second with 31.01 million shares worth N577.41 million, while Guaranty Trust Bank traded 26.58 million shares valued at N786.01 million.

FBN Holdings sold 15.21 million shares worth N95.24 million, while African Alliance Insurance transacted 10 million shares valued at two million naira.