NSE MARKET CAPITALISATION UP BY 24BN

The upward trend on the Nigerian Stock Exchange persisted Tuesday, as the value of listed equities represented by the market capitalisation appreciated by N23.96 billion.

In particular, the capitalisation rose by 0.30 per cent to close at N8.110 trillion from N8.086 trillion at which it opened.  Another key performance indices, the All share index garnered 0.30 per cent or 75.01 bases points to close at 25,384.10 points from 25,309.09 points.

Analysts has said that equity market traded within a tight range amid high volatility and ended with modest gain while the market breadth closed weak when compared with previous position- indicating looming sell activities as more equities decamped from gainers camp.

'To this regard, we advice investors to tread cautiously as the outlook suggests profit taking anytime soon due to increased speculative tendency observed during the session while the NSE sectoral indices closed mixed'.

Custodian and Allied Product Plc top on the gainers table with five per cent or N1.90 to close at N39.00 per share, Diamond Bank Plc followed with a gain of N0.31 to close at N6.55 per share and Eterna Oil Plc garnered N0.24 to close at N5.15 per share.

On the contrary, Oceanic Bank International Plc recorded a loss of five per cent or N0.10 tyo close at N1.90 per share, Red Star Express Plc followed with a loss of N0.15 to close at N2.85 per share and Cement Company of Northern Nigeria Plc dipped by N0.56 to close at N10.564 per share.

A turnover of 575.54 million shares valued at N4.01 billion was recorded in 5,903 deals as trading appreciated by 25.40 per cent, in contrast to the previous day's turnover of 458.96 million shares valued t N2.57 billion in 5,669 deals.

The Banking sub-sector was the most active on the sectorial analysis accounting for 45.14 per cent of the market turnover with 259.77 million shares valued at N2.43 billion in 3,248 deals. Zenith Bank Plc was the most after in the sub-sector trading 54.51 million shares valued at N816.61 million in 336 deals, United Bank for Africa Plc followed with the exchange of 49.83 million shares valued at N396.87 million in 461 deals and First Bank of Nigeria Plc recorded 47.30 million shares valued at N632.53 million in 747 deals.

The Insurance sub-sector followed on the sectorial analysis accounting for 15.71 per cent of the market turnover with 90.41 million shares valued at N146.42 million in 258 deals.

Custodian and Allied Insurance Plc led activities in the sub-sector trading 42.05 million shares valued at N115.71 million in 22 deals, NEM Insurance Plc followed with the exchange of 30.72 million shares valued at N16.29 milion in 73 deals and AIICO Insurance Plc recorded 4.92 million shares valued at N4.71 million in 59 deals.