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Stock market: Caverton triggers increase in market capitalisation

Stock market: Caverton triggers increase in market capitalisation
May 20
21:51 2014

Reports from the trading floor of the Nigerian Stock Exchange (NSE), Tuesday, show that market capitalisation, which opened at N12,848 trillion, closed at N12,931 trillion, adding N83 billion.

The appreciation comes as the market witnessed the listing of Caverton Offshore Support Group Plc on the board of the stock market.

The All-Share Index also added 155.09 basis points; that is, 0.40 per cent, to close at 39,007.40 against 39,022 achieved on Monday.

Forte Oil topped the gainers’ chart, adding N7.55 to close at N163.50 per share.

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Nigerian Breweries came second, adding N2.00 to close at N166.50, while Mobil gained N0.97 to close at N120.03 per share.

Meanwhile, Nestle topped the losers’ chart, losing N6.00 to close at N1,070.00 per share.

It was followed by Wapco, which lost N2.49 to close at N110.01, while Betaglas lost N0.94 to close at N17.96 per share.

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In all, investors traded 298,208,768 shares worth N3,901,692,423.12 transacted in 4,660 deals against the 206,692,358 shares valued at N2,732,839,071.09 billion traded in 4,406 deals on Monday.

Zenith Bank was the most-traded equity, trading 31,095,630 shares worth N715,344,066.01.

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