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    Trading reverses negative trend, market capitalisation up by N155bn

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    Babatunde Akinsolahttps://naija247news.com
    Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

    rp_NSE1.jpgThe market capitalisation of the Nigerian Stock Exchange (NSE) on Thursday appreciated by N155 billion after dropping for two consecutive days.

    Naija247news reports that the market capitalisation rose by N155 billion or 1.34 per cent to close at N11.762 trillion compared with N11.607 trillion posted on Wednesday due to price appreciation.

    A breakdown of the price movement chart showed that Nestle, for the third consecutive day, topped the gainers’ chart, appreciating by N49.97 to close at N1, 050 per share.

    It was followed by Nigerian Breweries having chalked up N3.98 to close at N155.58, while Dangote Cement garnered N1.99 to close at N180 per share.

    UAC Property increased by 42k to close at N10.97, while Zenith Bank rose by 39k to close at N23 per share.

    Consequently, the All-Share Index rose by 344.90 points or 1.01 per cent to close at 34,520.14 against 34,175.24 achieved on Wednesday.

    On the other hand, Seplat led the losers’ chart, with a loss of N10.68 to close at N370 per share.

    Mobil Oil trailed with a loss of N7.37 to close at N154.13, while Ashaka Cement dropped by N2.08 to close at N19.32 per share.

    Okomu Oil Palm lost N1.25 to close at N25.63, while International Breweries N1.08 to close at N20.58 per share.

    However, the turnover volume of shares traded closed, lower with an exchange of 601.18 million shares valued N4.17 billion transacted in 5,724 deals.

    This was against 704.06 billion shares worth N4.66 billion traded in 6,742 deals on Wednesday.

    Standard Alliance Insurance was the toast of investors with 200.64 million shares valued N100.33 million traded in 11 deals.

    FCMB came second with 59.86 million shares worth N192.29 million transacted in 207 deals, while FBN Holdings accounted for 58.69 million shares valued N550.51 million achieved in 949 deals.

    Zenith Bank sold 48.61 million shares worth N1.12 billion traded in 424 deals and Transcorp traded 46.44 million shares worth N142.39 million in 399 deals.

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