NSE market shares hit N11trn mark, amid huge gains

The Nigerian Stock Exchange (NSE) market indicators on Monday hit 23-month high, with All-Share Index crossing 32,000 mark, and market capitalisation hitting N11 trillion mark.

The News Agency of Nigeria (NAN) reports that the index appreciated by 1,206.75 points or 3.85 per cent, to close at 32,578.38 as against 31,371.63 recorded on Friday.

Similarly, the market capitalisation which opened at N10. 845 trillion, inched N367 billion to close at N11.212 trillion, following huge gains by some blue chips.

An analysis of the price movement table indicated that Nestle led the gainers’ table, growing by N36.24, to close at N955 per share.

Mobil Oil followed with a gain of N29.27, to close at N319.72, while Dangote Cement increased by N17.07, to close at N210; and Total appreciated by N5, to close at N270 per share.

On the other hand, Nigerian Breweries topped the losers’ chart, dropping by N4.56, to close at N155.50 per share.

Union Dicon trailed with a loss of 70k, to close at N13.45; and PZ Industries dipped 27k, to close at N13.45 per share.

Cutix lost 9k to close at 9k, while International Breweries shed 7k, to close at N24.13 per share.

The banking stocks remained investors’ delight, with FBN Holdings recording the highest volume, exchanging 90.56 million shares worth N639.16 million.

FCMB Group followed with 84.59 million shares, valued at N109.50 million, while Fidelity Bank traded 69.55 million shares worth N89.42 million.

Zenith International Bank transacted 54.88 million shares, valued at N1.12 billion and Skye Bank traded 49.09 million shares worth N25.09 million.

In all, investors staked N7.68 billion on 640.44 million shares exchanged in 7,024 deals, against a turnover of 708.41 million shares, valued at N8.26 billion traded in 6,039 deals on Friday.