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NSE's market capitalization up by N120bn

By The Citizen
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The Nigerian Stock Exchange (NSE) closed in an upbeat yesterday occasioned by price gains by major bluechipstocks, causing market capitalisation to rise further by N120billion.

Volume of transactions traded however dropped slightly as 434 million shares worth N4.3 billion was exchanged in 7243 deals, lower than 528.8 million units valued at N3.6 billion exchanged in 6,827 deals on Tuesday.

Specifically the All/Share index of the NSE rose significantly by 373.07 points or 1.1per cent from 33,335.11 recorded on Tuesday to 33,708.18 while market capitalization increased by N120 billion from N10,666 trillion recorded on Tuesday to N10,786 trillion.

Further analysis of yesterday's transactions showed that Nestle topped the gainers chart with 7100kobo to close at N981.00 per share followed by Nigerian Breweries with 799 kobo to close at N169.99 per share. Dangote Cement gained 199 kobo to close at N146.99 per share. Presco, Cadbury, BetaGlass garnered 165 kobo,159 kobo and 45 kobo to close at N25.90, N40.80 and N9.49 per share.

National Salt Company of Northern Nigeria and Champion added 35 kobo and 21 kobo to close at N9.50 and N4.56 per share.

FBNH gained 19 kobo while DN Meyer added 17 kobo to close at N1.96 per share.

However, Julius Berger topped the losers chart with 599 kobo to close at N54.00 per share followed by Guinness with 500 kobo to close at N275.00 per share. PZ Cussons lost 325 kobo to close at N37.00 per share.

Okomuoil, GlaxoSmithKline, Flourmills lost 299kobo, 177kobo and 74 kobo to close at N58.00,N47.96 and N77.00 per share.

Berger Paints shed 59 kobo to close at N11.31 per share. UACN lost 50 kobo to close at N50.00 per share.

Stanbic IBTC and AirService also dropped 38 kobo and 31 kobo to close at N13.90 and N5.45 per share.

On the activity chart, the banking sub-sector maintained its dominance in volume terms with 182 million shares valued at N1.4 billion followed by the insurance sub-sector which traded N63 million units worth N52 million in 504      deals.

The food/products sub-sector also featured with N41 million units valued at N271 million in 392   deals.

Trading in the shares of   Fidelity Bank and United Bank for Africa boosted activities in the banking sub-sector with 32 million shares and 21million units worth N108 million and N169 million while the insurance sub-sector was enhanced by activities in the shares of Mutual Benefit Assurance with 12.5        million shares worth N6 billion