Market Capitalisation Gains N17.5b | Independent Newspapers Limited
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Market Capitalisation Gains N17.5b

Posted: Sep 18, 2015 at 12:13 am   /   by   /   comments (0)

By Bamidele Ogunwusi,


Equities market sustained the bullish bias recorded in previous session as demand in top tier banking stocks was upheld as market twin indicators, the All Share Index and Market Capitalisation appreciated by 0.16 per cent each.

Market capitalisation appreciated by N17.503 billion to close at N10.451 trillion as against N10.433 trillion recorded at the close of trading on Wednesday while the All Share Index gained 50.92 basis points or 0.165 per cent to close trading at 30, 410.39 points compared with 30,359.47 recorded on Wednesday.

Gains recorded were on the back of bullish bias in top banking counters seeing that FBN Holdings, Guaranty Trust Bank, United Bank for Africa and Zenith Bank traded positive.

A total of 211.889 million shares worth N2.727 billion changed hands in 3,051 transactions as against 169.856 million shares worth N1.417 billion changed hands in 3,512 transactions recorded on Wednesday with the financial services sector accounting for a total of 111.440 million shares valued at N615.527 million in 1,066 deals compared with 89.283 million shares valued at N482.456 million in 1,157 deals recorded the previous trading day.

In the banking sub-sector, investors bought and sold a total of 59.596 million shares valued at N419.704 million in 825 deals as against 57.671 million shares valued at N424.912 million in 876 deals recorded on Wednesday, while the premium board recorded a total of 36.407 million shares valued at N528.591 million in 663 deals compared with 50.325 million shares valued at N433.483 million in 864 deals recorded the previous trading day.

Construction major, Julius Berger Nigeria led 22 others on the gainers’ table when it nicked 208 kobo, followed by Beta Glass which gained 185 kobo, UAC of Nigeria appreciated by 150 kobo, Okomu Oil Palm added 135 kobo, while Total Nigeria grabbed 80 kobo, among others.

On the flip side, building materials’ major, Lafarge Cement WAPCO led the decliners’ table when it went down by 100 kobo, followed by Guinness Nigeria which shed 63 kobo, Champion Breweries dropped 20 kobo, Fidson Healthcare depreciated by 16 kobo, while Premier Breweries dropped 15 kobo, among others.