Nigerian Stock Market Bullish As Capitalisation Gains N532 Billion

Trading activities on the Nigerian Exchange Ltd (NGX) on Thursday remained bullish with the crucial indicators of the stock market growing by 2.03 per cent with capitalisation gaining N532 Billion.

The market capitalisation closed at N26.786 trillion, compared with N26.253 trillion on Wednesday.

Similarly, the All-Share Index, which opened at 48,675.24, gained 986.63 points or 2.03 per cent to close at 49,661.87.

A breakdown of the price movement table showed that Mutual Benefit Assurance topped the losers’ table with a loss of 9.68 per cent to close at 28k per share.

Honeywell Flour Mill trailed with a loss of 8.42 per cent to close at N2.72, while Flour Mills Nigeria dipped  by 7.06 per cent to close at N27 per share.

Unity Bank was down by 7.06 per cent to close at 40k and First City Monument Bank (FCMB) declined by 3.51 per cent to close at N3.02 per share.

Conversely, Computer Warehouse Group led the gainers’ table, growing by 10 per cent to close at 99k per share.

Learn Africa followed with a gain of 9.78 per cent to close at N2.47, while Caverton Offshore Support Group  reaped also 9.52 per cent to close at N1.15 per share.

Multiverse Mining & Exploration increased by 9.52 per cent to close at N2.30, while Chams improved by eight per cent to close at 27k per share.

Mutual Benefits Assurance dominated the activity chart with an exchange of 74.5 million shares worth N22.84 million.

FBN Holdings followed with an account of 23.43 million shares valued at N251.88 million, while Access Holdings traded 15.9 million shares worth N130.19 million.

United Bank for Africa sold 15.3 million shares valued at N107.07 million, while NEM Insurance transacted 13.49 million shares worth N62.12 million.

In all, investors bought and sold 226.47 million shares valued at N2.76 billion achieved in 3,515 deals that caused the capitalisation of the Nigerian stock market to rise by N532 billion. (NAN)

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