Nigerian Stock Exchange Market Cap Maintains 3-Day Gain, But Volume Traded Drops by ₦18.3bn

The News Agency of Nigeria has reported that the market capitalization of the Nigerian Stock Exchange closed at ₦11.55 trillion, a 0.23 percent rise from its Tuesday’s total of ₦11.52 trillion, which marks a third consecutive closing day increase.

The biggest gainers were Seplat, who witnessed a rise from ₦475 to ₦485 per share, a gain of 2.1%.

Followed by Guinness who weren’t close, but still gained ₦3.1 to close at ₦66.10. Okomuoil Palm, PZ Industries and Stanbic IBTC all witnessed profits also from ₦1.50 to ₦64.50, ₦1.05 to ₦22.05 and ₦0.99 to ₦32.49 respectively.

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While other equities were posting positive figures, Nestle ended the day as the biggest losers after tanking ₦16.50 to end at ₦903.50.

Other companies at the losers’ table were Presco, Dangote Cement, MRS and Flour Mills, depleting by ₦3.22 to close at ₦61.32, ₦2 to ₦208, ₦1.86 to ₦15.44 and ₦1.10 to ₦25.15, respectively.

Yet the appreciation of the market cap did not resonate with the volume of shares patronised, with investors trading 331.43 million shares worth ₦3.24bn in 4,055 deals, significant decrease from Tuesday’s figures of ₦21.61bn trades from 2.40 billion shares in 3,715 deals.

Zenith Bank turned out the cynosure of all eyes, as they exchanged 33.11 million shares valued at ₦727.82 million.

United Bank for Africa (UBA) cashed in ₦251.71 million from trading 29.25 million shares, followed by FBN Holdings who sold 26.56 million shares worth ₦160.75 million.

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Lastly, Custodian and Allied Insurance exchanged 25.25 million shares valued at ₦85.86 million while the fifth highest of the day was NEM Insurance who traded 24.56 million shares worth ₦29.81 million.



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