NSE's Market Cap Gains 13 Billion On Thursday But Drops On Friday

Trading on the Nigerian Stock Exchange on Thursday continued on Wednesday's positive note as big companies saw their shares move, resulting in an N13 billion rise in market capitalization of the stock exchange.

At the end of Thursday, the All-Share Index added 25.8 points, which translates to an increase of 0.07 percent to close at 38,799.83 points. The market cap stood at N23.2 trillion.

Zenith Bank, GTBank, Access Bank, Oando and Okomu Oil are among the companies whose shares went up, contributing to the growth of the NSE.

Oando's shares rose 5.16 percent to close at N3.26 kobo. Zenith Bank rose 3.81 percent to close at N21.80 kobo.

 Royal Exchange and Jaiz Bank lost, however, losing 7.69 percent and 6.06 percent respectively.  

Regardless of the rise in market capitalization, the total volume of trades went down to 145.332 million units which are worth about N1.576 billion, and saw just about 3,525 deals.

FBN Holdings saw the most action as 21.851 shares worth N157.179 million were traded. It was followed closely by GTBank which saw 20.5 million shares with N589.173 million traded. Zenith was third with 17.574 million shares worth N379.878 million traded. Access Bank traded 8.6 million shares which are valued at N68.887 million.

For Friday, the 9th of April, the market capitalization of the Nigerian Stock Exchange stands at N20.34 trillion as the exchange closes for the week, losing about N2 trillion from yesterday. A total of160,649,812 shares were traded in 3,507 deals, which translates to about N1.3 billion.

103 equities were traded, with results of 14 gainers and 14 losers.

Honeywell Flour Mill was the top gainer as its shares rose 8.85 percent to close at N1.23 per share, followed closely by Sovereign Trust Insurance which rose 8.7 percent. Next are Japaul Gold and Ventures and Livestock Feeds whose shares went up by 8.62 percent and 7.22 percent respectively.

For losers, Guinness Nigeria took the fall as its shares went down by 10 percent to end at N29.7 per share. It was followed by Unity Bank which lost 9.86 percent. Others include Associated Bus Company and Mutual Benefits Insurance which lost 9.1 percent and 7.14 percent.

For companies that recorded the highest volume of trade shares, Mutual Benefits Assurance shone, as it traded 22.9 million shares, the highest on the NSE on Friday. Access Bank and GT Bank led the banking sector with 18.75 million traded shares and 9.23 million shares respectively. Japaul Gold and Ventures also traded 14.93 shares.

The All-Share Index of the NSE moved slightly up by 66.56 points to close for the week at 38,866.39, which represents a 1-week loss of 0.46%, a 4-week loss of 0.17%, and a total year-to-date loss of 3.49%.