Trading sustains upward trend on NSE, market capitalisation crosses N13trn mark

The market capitalisation of the Nigerian Stock Exchange (NSE) on Friday sustained a positive trend, crossing to N13 trillion mark on the second trading day of 2020.

Specifically, the market capitalisation rose by N49 billion to close at N13. 019 trillion against N12. 970 trillion on Thursday.

Similarly, the NSE All Share index inched 101 points or 0.37 per cent to close at 26,968.79 from 26,867.79 on Thursday.

A breakdown of the price movement chart indicates that Guaranty Trust Bank led the gainers’ table, gaining 90k to close at N30.10 per share.

Okomu Oil Palm also appreciated by 90k to close at N56.50, while Zenith Bank added 55k to close at N19.25 per share.

Ecobank Transnational rose by 40k to close at N6.95, while United Bank for Africa increased by 30k to close at N7.50 per share.

On the other hand, Nigerian Breweries topped the losers’ chart declining by N2.90 to close at N56.10 per share.

Inter Links trailed with a loss of 29k to close at N2.91, Oando dipped 0.29k to close at N3.70 per share.

GlaxoSmithKline lost 25k to close at N5.25, while Fidson was down by 10k to close at N2.70 per share.

Further analysis of the activity chart shows that Niger Insurance was the most active stock, exchanging 127.244 million shares worth N27.99 million.

Verita Capital followed with an account of 121.21 million shares valued at N24.24 million, while Zenith Bank sold 63.54 million shares worth N1.21 billion.

United Bank for Africa traded 46.04 million shares valued at N340.67 million, while Japaul Oil traded 30.16 million shares worth N6.04 million.

Consequently, the volume of shares traded grew by 130.74 per cent with an exchange of 608.86 million shares valued at N3.76 billion in 6,071 deals.

This was against 264.10 million shares worth N5.23 billion exchanged in 3,178 deals on Thursday. (NAN)