Market Capitalization Gains N40billion Amid Blue Chip Stock Price Growth

Market capitalization on Tuesday, March 22, appreciated further for the second consecutive trading day as the price of some blue chips jumped.

The market capitalization which opened at N8.910 trillion rose by N40 billion or 0.45 per cent to close at N8.950 trillion.

An analysis of the price movement chart indicated that Nestle led the gainers’ table, growing by N22 to close at N702 per share.

Nigerian Breweries came second with a gain of N5.20 to close at N109.20, while Guinness appreciated by N4.01 to close at N112 per share.

Unilever increased by N1.47 to close at N38.92, while UACN gained 47k to close at N20.95 per share. Conversely, Seplat topped the laggards’ chart, dropping by N30 to close at N310 per share.

PZ trailed with a loss of N1.13 to close at N21.71 and National Salt Company of Nigeria shed 36k to close at N6.86 per share.Zenith Bank dropped 29k to close at N12.90, while UAC Property declined by 25k to close at N4.85 per share.

Also, investors bought and sold 344.12 million shares valued at N2.46 billion achieved in 4,386 deals in contrast with 412.47 million shares worth N2.07 billion traded in 3,285 deals on Monday.