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NSE: Market capitalisation gains N471bn as interest in blue-chip equities rises further

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The Nigerian Stock Exchange extended its rising profile for yet another day Wednesday as bargain hunting activities intensified, driving the market northward by a staggering N471 billion. Investors’ relentless passion for mid-cap and large-cap stocks caused all the key performance parameters to record notable improvement. A positive market breadth was posted today: there were 38 gainers compared to 10 losers. The All Share Index (ASI) appreciated by 3.54% or 975.55 basis points to close at 28,562.48. Market Capitalisation rose to N13.787 trillion at the end of the day’s trading. Year to date, the index is up by 6.41%.

TOP 5 GAINERS

In value terms, Dangote Cement, for the third consecutive day, led advancers, appreciating by 9.33% to close at N164. Presco added up 8% to end today’s trade at N52. Okomu Oil went up by 6.19% to N60. Stanbic advanced to N42.5, notching up 6.25% in the process. Construction giant, Julius Berger completed the top 5, climbing by 9.80% to close at N21.85.

TOP 5 LOSERS

Total was the worst performing stock in value terms today, declining by 3.52% to close at N107. Unilever shed 2% to close at N19.6. UPDC Real Estate Investment Trust fell to N4.05, losing 8.99%. UAC-PROP tumbled to N1, recording 7.41% depreciation. Tripple Gee closed at N0.58, going down by 9.38%.

TOP 5 TRADES

741.822 million shares estimated at N9.216 billion were traded today in 7,622 deals.

UBA was the most active stock with 156.012 million units of its stocks worth N1.402 billion traded in 830 deals. 86.065 million units of Zenith Bank shares priced at N1.889 billion exchanged hands in 889 transactions. Access Bank had 82.439 million shares valued at N963.669 million traded in 671 deals. FBN Holdings traded 69.398 million shares estimated at N524.564 million in 597 transactions. Transcorp traded 62.876 million shares valued at N62.613 million in 469 deals.

READ ALSO: NSE: Banking stocks dominate trade as index rises further

NEW DEVELOPMENTS

Dangote Sugar Refinery Plc notified the Exchange today of the appointment of a new company secretary/legal officer in person of Mrs Temitope Hassan. She resumed at her new position on 6th January 2019.

A multidiscipline lawyer, Mrs Hassan is a Bachelor’s in Law degree holder with a 2nd Class Upper Division Honours from London South Bank University, UK. She equally holds a Bachelor’s degree in Insurance from University of Lagos and a Master’s of Business Administration (MBA).

Prior to joining Dangote Sugar, she was company secretary/legal adviser of UBA Pensions Custodian Limited and a one-time Head of the Company Secretariat of Skye Bank (now Polaris Bank). In a career spanning over 22 years, she has profound knowledge and experience in Company Secretariat Practice, Legal Drafting, Dispute Resolution, Corporate Governance Advisory, Investor Relations, Regulatory Compliance and Corporate Services.

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