Market Capitalisation Appreciates By N294b

By: Toyin Ajadi

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Gains were sustained on the equities market on Tuesday as transactions ended bullish with the market capitalisation rising by N294 billion to close at N55,653 trillion, as against N55,359 trillion at the close of trading on Monday.

The all-share index also appreciated by 0.53% to close at 98,383.04 points being 519.70 points higher than Monday’s 97,863.34 points.

In the same vein, the market sentiment closed in the positive territory with 28 gainers and 14 losers recorded at the end of the day’s trade.

The gainers were led by Dangote Sugar Refinery with 10% price gain to close at N42.90k, followed by National Salt Company with 9.88% price gain to close at N37.25k then Morrison Industries also gained 9.88% to close at N4.45k.

On the other hand, Sovereign Trust Insurance came out last with price decline of 9.52% to close at N0.38k, while Universal Insurance Company followed with 8.33% loss closing at N0.33k and was followed by The Initiates with 5% loss and a closing price of N1.71k.

The highest volume of traded shares for the day was recorded by Abbey Mortgage Bank with 278 million shares followed by Access Holdings with 81.9 million shares.

At the end of Tuesday’s trading, a total of 559.60 million shares with market value of N6.58 billion were traded in 7,990 deals.

 

Olusola Akintonde

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