29 stocks appreciate, NSE capitalisation rises by N53bn

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The Nigerian Stock Exchange market capitalisation rose by N53bn at the close of trading on Wednesday as 29 stocks gained.

A total of 270.855 million shares valued at N2.769bn were traded in 3,940 deals.

The equities market recorded a 0.47 per cent gain at the close of trading, to settle the year-to-date return at 22.72 per cent. A total of 15 stocks emerged as losers.

The NSE capitalisaton rose to N11.367tn from N11.314tn, as the All-Share Index closed at 32,981.63 basis points from 32,827.98 basis points.

7UP Bottling Company Plc topped the gainers’ list, advancing by 8.82 per cent, to close at N89.23.

Neimeth International Pharmaceuticals Plc, Cap Plc, Linkage Assurance Plc and Ecobank Transnational Incorporated Plc followed on the gainers’ list, appreciating by  7.14 per cent, five per cent, five per cent and 4.96 per cent, respectively.

However, University Press Plc shares declined the most, depreciating by 9.60 per cent, to close at N2.92.

Also on the losers’ table were Champion Breweries Plc, United Capital Plc, Conoil Plc and Capital Hotels Plc, which fell by 7.55 per cent, 7.29 per cent, five per cent and 4.89 per cent, accordingly.

All sector indices closed in the green for the second day running with the NSE banking, NSE food/beverage, NSE industry, NSE insurance and NSE oil/gas indices advancing by 1.34 per cent, 0.46 per cent, 0.18 per cent, 0.29 per cent and 0.04 per cent, respectively.

“The gain in the market could be attributed to the continued share price appreciation of some banking sector heavyweights, as well as the slight gains recorded by some other large cap counters,” analysts at Meristem Securities said in a post.

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