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NSE: capitalisation rises by N556bn as market rallies by 4.61%

By The Rainbow


Equity holders at the Nigerian Stock Exchange (NSE) saw the value of their shares appreciate by N556billion last week following 4.61 percent rally recorded by the bourse.

NSEASI advanced by 24bps while YtD stood at 28.72% buoyed by trading in the small cap stocks which dominated upward price movements at the WEdnesday trading session.

ETERNA, IPWA, AIRSERVICE and RTBRISCOE led the advancers’ league with 10.00%, 9.76%, 9.59% and 7.14% gains respectively. On the other hand JOSBREW, CAP, UNITYBNK and ABCTRANS led the decliners losing 10.00%, 9.98%, 8.62% and 7.23% respectively.

As bargain hunting persisted at the Customs Street, the equities market capitalisation rose from N12.084trillion at the beginning of last week's trading and closed at N12.640 trillion. Likewise, the NSE All Share Index (ASI) rose by 1,741.8 points after it rose from 37,822.99 points to 39,564.79 points.

Week-on-week (wow), the NSE-30 Index which measure the performance of largely capitalised stocks at the Nigerian Stock Exchange rose from 1,809.97 points to 1,890.55 points. Also, the NSE Consumer Goods Index appreciated from 1,098.02 points to 1,136.19 points.

All NSE baskets appreciated except NSEBNK10 which declined by 44bps largely owing to ZENITHBANK (-1.50%) and DIAMONDBNK’s (-0.81%) losses. NSE 30, NSEFBT10 and NSEINS10 gained 27bps, 92bps and 108bps in that order.

MERI-AGRI Index posted the highest gain closing 2.61% up due to OKOMUOIL’s 4.91% gain. MERI-CMG and MERI-INS followed suit with 1.76% and 1.06% gains respectively. MERI-CONG Index however shed the most with 293bps owing to JOHNHOLT and UACN which lost 6.96% and 2.96% respectively.