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NSE market cap gains N1.38trn on Airtel listing

The Nigerian equity market for the second time this week closed higher as the NSE All share index, the major market performance indicator rose by 0.10 per cent on the back of Airtel Africa Listing.

However, market breadth closed negative, with 8 gainers as against 20 losers.

Consequently, the All Share Index (ASI) increased by 30.15 basis points, representing a growth of 0.10 per cent to close at 29,318.02 index points from 29,287.87 recorded the previous day.

However, the Market Capitalization gained N1.38 trillion, accounting for a growth of 10.68 per cent to closed at N14.288 trillion from N12.909 trillion recorded the previous day.

Meanwhile, a turnover of 294.6 million shares exchanged in 4,033 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 94.26 million shares exchanged by investors in 1,442 deals.

Volume in the sub-sector was largely driven by the activities in the shares of Zenith Bank Plc and FBNH Plc.

Insurance sub-sector boosted by the activities in the shares of Cornerstone Insurance Plc and Wapic Insurance Plc followed with a turnover of 86.3 million shares in 130 deals.

Further analysis of the day’s trading showed that Cadbury Nigeria Plc topped the gainers’ table with 4.37 per cent to close at N11.95 per share while Japaul Oil Plc followed with 4.35 per cent to close at 24 kobo per share and Dangote Flour Plc with a gain of 1.75 per cent to close at N17.40 per share.

On the flip side, GSK Plc led the losers’ chart with a drop of 9.78 per cent to close at N8.30 per share. Courtville Business Solution Plc followed with a loss of 8.70 per cent to close at 21 kobo per share while ETI Plc dropped by 8.65 per cent to close at N9.50 per share.

Source: NewTelegraph

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