Market capitalisation beneficial properties N347bn as FCMB lists 19.803bn shares

By Seun Ibiyemi

The Nigerian inventory market maintained its upward momentum on Thursday, pushed by the itemizing of 19.803 billion frequent shares of FCMB Plc at 50k per piece.

This contributed an additional N347 billion beneficial properties to the market capitalisation at the shut of the session.

Notably, the market capitalisation, which opened at N64.521 trillion, rose by 0.54 per cent or N347 billion to shut at N64.868 trillion.

The All-Half Index also gained 0.19 per cent to shut at 104,744.43, against 104,549.74 recorded on Wednesday.

In consequence the Year-To-Date (YTD) return superior to 1.77 per cent.

Market breadth also closed obvious with 39 gainers and 25 losers on the bottom of the Change.

On the gainers chart, Chellarams Plc and Honeywell Flour led by 10 per cent each and every to shut at N5.94 and N9.35 per piece respectively.

NNFM trailed by 9.98 per cent to shut at N55.10, Crimson Star Explicit gained 9.89 per cent to shut at 5 Naira and Sky Aviation added 9.89 per cent to shut at N40 per piece.

On the losers facet, Guinea Insurance Plc led by 10 per cent to shut at 72k, RT Briscoe followed by 9.70 per cent to shut at N2.70 per piece.

Veritas Kapital Assurance declined by 9.30 per cent to shut at N1.17, Might maybe moreover & Baker shed 8.95 per cent to shut at N8.65 and Daar Communications misplaced 7.14 per cent to shut at 78k per piece.

Within the period in-between, trading exercise on the Change declined in trace by 21.04 per cent.

Investors exchanged N497.36 million shares in trace of N11.84 billion during 13,716 deals, when put next with 421.62 million shares price N15 billion traded during 16,256 deals, posted in the previous session.

FBN Holdings led the exercise chart in quantity and cost, with 83 million shares exchanged during 287 deals price N2.4 billion.