Stock Market Capitalization Surges to N10trillion As Bargain Hunting Lingers

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The Nigerian Stock Exchange, NSE, gained a total of N760.13 billion in three consecutive days last week, driving market capitalization to N10 trillion mark following the announcement of the new forex regime.

Market capitalization on Friday, June 17 gained N260.1 billion to close at N10.044 trillion compared to N205.4 billion gained previously to close at N9.784 trillion.

Trading in the Top Three Equities namely; United Bank For Africa Plc, FBN Holdings Plc and Zenith International Bank Plc., accounted for 1.001 billion shares worth N6.778 billion in 7,153 deals, contributing 46.37% and 33.23 % to the total equity turnover volume and value respectively.

Dangote Cement Plc led the day’s gainers as it appreciated by N8.75 to close at N183.81 per share, Nigerian Breweries increased by N7.1 to close at N148.86 per share, Guinness followed with a gain of N1.5 to close at N104 per share, while WAPCO added 99 kobo to close at N75 per share. Guaranty Trust Bank Plc advanced by 91 kobo to close at N21.61 per share.

Total Nigeria Plc topped the days losers as it depreciated by N5.99 to close at N173.01 per share, Conoil Plc lost N1.15 to close at N21.85 per share while Nigerian Aviation Handling Company Plc dropped 45 kobo to close at N4.23 per share. Berger Paints Plc and Oando Plc fell by 4 and 32 kobo each to close at N7.6 and N7 per share respectively.

At the end of the day’s transactions, investors exchanged 628.8 million shares worth N6.8 billion in 5,965 deals compared to a total of 618.2 million shares valued at N5.4 billion traded in 6,757 deals previously.





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