Equities recover value as market capitalisation grows by 0.46%

Trading activities on the floor of the Nigerian Stock Exchange closed on a positive note for the first time this week on Thursday as the market capitalisation of the listed equities rose by N55.25bn or 0.46 per cent to close at N11.98tn, up from Wednesday’s close of N11.93tn.

Similarly, the NSE All-Share Index, was up by 0.46 per cent to close at 37,308.60 basis points as against a decline of 0.37 per cent, which saw it close at 37,136.60 basis points the previous day.

The financial services subsector retained its dominance of the activity chart with Access Bank Plc emerging as the most traded stock. It accounted for 57.31 million shares worth N424.36bn of the total volume traded on Thursday. Zenith Bank Plc followed with 25.62 million shares valued at N541.27bn traded, while United Bank for Africa Plc was third with 22.95 million of its shares traded.

A total of 24 stocks recorded price appreciation, while 26 others recorded price depreciation as investors exchanged 320.341 million shares worth N3.757bn in 5,005 deals.

Guaranty Trust Bank Plc, which rose by 8.23 per cent or N1.90 to close at N25 led the gainers’ chart.

It was followed by Oando Plc and Honeywell Flour Mills Plc, which were up by 4.97 per cent and 4.89 per cent to close at N14.56 and N3.65 per share.

Also, FCMB Group Plc rose by 4.84 per cent or 15 kobo to close at N3.25 per share, while Cutix Plc gained 4.82 per cent or eight kobo to close at N1.74 per share.

Cadbury Nigeria Plc was the day’s top loser, shedding 8.67 per cent or N7.40 to close at N78 per share.

NAHCO Plc followed with a 5.40 per cent or 27 kobo loss, while PZ Cussons Nigeria Plc and UAC of Nigeria Plc declined by five per cent each to close at N32.30 and N58.90 per share, respectively.

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