NGX market capitalisation increases by N124bn

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NGX market capitalisation increases by N124bn

Transactions on the Nigerian equity market closed the last day of the week on a positive note with the market capitalisation appreciating by N124 billion due to gains in some blue chips.

The market capitalisation increased 0.61 per cent to N20.310 trillion, from N20.186 trillion recorded on Thursday.

Also, the All-Share Index rose by 236.12 basis points or 0.61 per cent to 38,808.01 points in contrast with 38,571.89 achieved on Thursday.

An analysis of the price movement shows that Chams led the gainers’ table in percentage terms, appreciating by 10 per cent to close at 22k.

UAC Property came second with 9.72 per cent to close at 79k, while Guinness appreciated by 9.26 per cent to N31.85 per share. Northern Nigeria Flour Mills gained 9.18 per cent to close at N5.35, while PZ Cusson added 8.43 per cent to close N4.50 per share.

On the other hand, Japaul Gold topped the losers’ chart in percentage terms, dropping by 10 per cent to 63k per share.

Sterling Bank trailed with a loss of 9.76 per cent to close at N1.48, while FCMB Group dropped 8.90 per cent to N2.66 per share. Mutual Benefits was down by 6.11 per cent to 34k, while GlaxoSmithKline dipped 5.88 per cent to N6.40 per share.

Fidelity Bank emerged the most traded stock with an exchange of 46.15 million shares achieved in 179 deals.

The volume of shares traded dipped by 17.82 per cent as investors bought and sold 262.51 million shares valued at N2.44 billion in 3,528 deals.


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