Substantial gains have been made by highly capitalised companies and raised the market capitalisation of the Nigerian Stock Exchange (NSE), by N11 billion which represents 2.61 percent of the total market value.
The all-share index rose by 0.26 percent to close at 33,593.87. The trading results showed that the volume of traded shares increased by 1.4 percent. A market turnover of 135.5 million ordinary shares valued at N2.8 billion executed in 6,333 deals compared with 134.1 million ordinary shares worth N2.8 billion exchanged in 6,080 deals.
The banking subsector led the equities sector with a total of 94.1 million ordinary shares valued at N1.3 billion. The volume of shares traded in the banking subsector rose 2.5 percent.
“The high volume of shares traded in the banking subsector was due to the activities in the shares of Guaranty Trust Bank Plc and Oceanic Bank International Nigeria Plc which representing 28.9 percent of the subsector’s turnover,” says a spokesman for Standard Bank. “Chevron Oil Nigeria Plc led the price gainers with N6.93 gain to close at N147.30 per share.”