Home Sectors BUSINESS & ECONOMY Dividend Prospects Drive Market Capitalization by N72billion

Dividend Prospects Drive Market Capitalization by N72billion

Nigerian Stock Market
Trading in equities remained in the Green Zone at the Nigerian Stock Exchange  on Monday, March 21, as more investors took position on stocks over excitements of dividend announcements.
The excitement of dividend announcements lifted the equity market as United Capital announced a record dividend of 35kobo per share while Sterling Bank also announced a dividend of 9kobo per share.
The Market Capitalization gained N72 billion to close at N8.910 trillion, compared to the increase of N5 billion recorded on Friday to close at N8.838 trillion. United Capital Plc led the gainers’ table with 16 kobo or 9.41 per cent to close at N1.86 per share, followed by Fidelity Bank Plc with eight kobo or 6.67 per cent to close at N1.28 per share.
Guaranty Trust Bank Plc gained 71 kobo or 4.53 per cent to close at N16.38 per share, while Unity Bank Plc was up three kobo or 4.29 per cent to close at 73 kobo per share.
Law Union Plc rose three kobo or 4.29 per cent to close 73 kobo per share. Conversely, Mobil Plc shed N8.55 or five per cent to close at N162.45 per share, while NASCON Plc dropped 38 kobo or five per cent to close at N7.22 per share. PZ Cussons Plc dipped N1.20 or 4.99 per cent to close at N22.84 per share, while Union Dicon Salt Plc declined 56 kobo or per cent to close at N10.69 per share. Champion Breweries Plc depreciated 15 kobo or 4.81 per cent to close at N2.97 per share.

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