NSE appreciates by N1.30bn

The value of equities listed on the Nigerian Stock Exchange, NSE, appreciated by N130.13 billion, yesterday, on the back of sustained investors patronage.

Specifically, the market capitalisation rose by 1.37 per cent to close at N9.62 trillion as against N9.49 trillion recorded in the previous day.

Another market indicator, the All Share Index, rose by 1.34 per cent to close at 30,098.83 points from 29,686.95 points it opened.

Forty seven equities recorded share price appreciation as against 50 equities in the previous day while 13 equities recorded share price depreciation as against eight losers in the previous trading day, suggesting a positive market breadth.
Meantime, the volume of equity transactions declined by 24.36 per cent, recording 622.32 million shares valued at N4.97 billion exchanged in 7,446 deals in contrast to 822.69 million shares valued at N5.06 billion exchanged in 7,379 deals.

The Financial sector led the market transaction volume with 504.91 million shares valued at N3.72 billion in 5,055 deals as against 734.21 million shares valued at N3.95 billion in 4,987 deals recorded in previous session.

This was followed by the Conglomerates sector with 40.44 million shares traded in 201 deals while Consumer Goods sector recorded 34.13 million shares in 1,172 deals to close with third position on the chart.

The volume recorded in the sector was driven by transaction in the shares of United Bank of Africa Plc, UBA; Diamond Bank Plc, FBN Holding Plc, Fidelity Bank Plc and NEM Insurance Company Nigeria Plc. The total volume of 275.27 million shares valued at N2.09 billion traded in the five stocks accounted for 43.23 per cent of the entire market volume.