Market Capitalization Scoops N117billion As Bullish Trend Opens New Week

The new week at the Nigerian Stock Market opened on a positive note on Monday, February 29, as market capitalization leaped by N117 billion.

The market capitalization jumped by 1.41 per cent to close at N8.45 trillion against the N8.34 trillion achieved on Friday.

Market analysts attributed the growth to the end of month realignment activities embarked upon by some investors and traders.

Seplat topped the gainers’ table, growing by N9 to close at N349 per share while Mobil followed with a gain of N6.97 to close at N156.97 and Dangote Cement increased by N6.75 to close at N141.75 per share.

ETI increased by 79k to close at N16.75 while Presco went up by 25k to close at N34.25 per share.

Conversely, Conoil recorded the highest loss for the day, dropping by 91k to close at N17.43 per share.

Nigerian Breweries trailed with 77k to close at N101 while Zenith Bank dropped by 28k to close at N11.07 per share.

Dangote Sugar depreciated by 27k to close at N5.23 and Oando declined by 23k to close at N2.97 per share.

Wapic Insurance was the most traded stock, exchanging 207.11 million shares worth N103.56 million in 11 deals.

Access Bank followed with an exchange of 138.97 million shares valued N562.78 million traded in 66 deals while Zenith Bank sold 24.18 million shares worth N268.71 million in 506 deals.

FCMB Group accounted for 13.46 million shares valued N10.31 million transacted in 99 deals and Oando recorded a turnover of 10.67 million shares worth N32.08 million in 159 deals.

The volume of shares traded increased by 66.64 per cent with an exchange of 467.24 million shares valued N1.49 billion achieved in 2,549 deals.

This is in contrast with the 280.39 million shares worth N1.73 billion traded in 2,771 deals on Friday. (NAN)