Market capitalisation appreciates by 0.65%

Activities on the floor of the Nigerian Stock Exchange (NSE) closed on Wednesday on a positive note as the market capitalisation rose by N81bn or 0.65 per cent to close at N12.603tn as against a decline of 1.42 per cent or N181bn the previous day.

Similarly, the NSE All-Share Index rose by 252.96 basis points or 0.65 per cent to close at 39,383.33 points, compared to a 1.42 per cent depreciation on Tuesday.

Apart from the NSE Lotus Islamic Index, which fell by 0.09 per cent to 2,740.37 basis points, and the NSE ASeM Index, which closed flat, all sectoral indices appreciated on Wednesday.

For instance, The NSE 30 Index gained 0.63 per cent or 11.35 basis points to close at 1,804.80 points, while the NSE Banking Index rose by 2.67 basis points or 0.66 per cent to close at 407.03 points.

The banking sub-sector led the activity chart, accounting for 45.27 per cent of total turnover.

In the sub-sector, investors traded 192.342 million shares valued at N1.725bn in 1,374 deals.

Volume in the sub-sector was driven by trading in the shares of Skye Bank Plc, Unity Bank Plc, Zenith Bank Plc, United Bank for Africa Plc and Access Bank Plc.

In all, a total of 30 stocks recorded price appreciation, while 26 stocks recorded price depreciation.

International Breweries Plc followed Union Dicon on the gainers' chart with a gain of N1.49 or 5.25 per cent, which saw it close at N29.88 per share.

CUTIX Plc and Learn Africa Plc rose by 4.85 per cent and 4.74 per cent to close at N1.73 and N1.99 per share respectively, while Costain (West Africa) Plc rose by 4.71 per cent or four kobo to close at 89 kobo per share.

On the other hand, Morison Industries Plc led the losers after it shed 4.98 per cent or 10 kobo to close at N1.91 per share.