NSE market capitalisation rebounds by N109bn on banking stocks gains

Transactions in the equities market on Thursday rebounded by N109 billion following buying interest in banking and industrial goods stocks.

Consequently, the market capitalisation, which opened at N20.251 trillion, rose by N109 billion or 0.54 per cent to close at N20.360 trillion.

Also, the All-Share Index rose by 208.71 points or 0.54 per cent to close at 38,914.84 from 38,706.13 recorded on Wednesday.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which were; Guaranty Trust Bank, Zenith Bank, Dangote Sugar Refinery, Eterna and UACN.

The market breadth was positive with 22 gainers against 11 losers.

Eterna drove the gainers’ table with 9.96 per cent to close at N5.08 per share.

Lasaco Assurance followed with a gain 8.33 per cent to close at N1.30, while Zenith Bank gained 7.32 per cent to close at N22 per share.

Guaranty Trust Bank inched higher by 6.43 per cent to close at N29.80, while Dangote Sugar Refinery appreciated by 6.43 per cent to close at N17 per share.

On the other hand, Linkage Assurance and Wapic Insurance led the losers’ chart by 9.09 per cent each, to close at 50k per share each.

Associated Bus Company followed with a loss of 6.67 per cent to close at 28k per share.

Sterling Bank dipped 6.37 per cent to close at N1.47, while Honeywell Flour Mill shed 5.60 per cent to close at N1.18 per share.

Transactions in the shares of Unity Bank topped the activity chart with 1.001 billion shares valued N700.69 million.

Multiverse Mining and Exploration followed with 200.19 million shares worth N40.04 million, while Guaranty Trust Bank traded 122.18 million shares valued N3.55 billion.

Zenith Bank sold 32.84 million shares worth N711.92 million, while FBN Holdings transacted 18.97 million shares valued N137.82 million.

In all, the total volume of shared traded advanced by 727.8 per cent with a total of 1.47 billion shares worth N5.85 billion in 4,040 deals.

This was in contrast with 177.39 million shares valued at N2.68 billion shares exchanged in 4,103 deals on Wednesday.