Goddy Egene
Investors staked N7.51 billion on 2.13 billion shares in 4,558 deals yesterday at the stock market as the bulls continued to dominate trading. The value of trading soared by 755 per cent compared to 249.545 million shares exchanged for N2.184 billion in 6,090 deals the previous day. Champion Breweries Plc was the most traded stock by volume and value at 1.91 billion shares and N4.95 billion respectively.
The sustained bullish trend lifted the Nigerian Stock Exchange (NSE) All-Share Index (ASI) by 0.31 per cent to close at 40,490.85, while market capitalisation added N65.7 billion to be at N21.2 trillion.
The gain was bolstered by buying interest in Seplat Petroleum Development Company Plc, Nigerian Breweries Plc and Guaranty Trust Bank Plc. In all, 27 stocks appreciated, while 14 depreciated.
The sustained bullish trend that has characterized the Nigerian Stock market since the beginning of the year continued as the All-Share Index (ASI) rose by 0.31 per cent to close on Thursday at 40,490.85, while market capitalisation added N65.7 billion to close at N21.2 trillion.
At the stock market, investors staked N7.51 billion on 2.13 billion shares in 4,558 deals as the bulls continued to dominate trading. The value of trading soared by 755 per cent compared to 249.545 million shares exchanged for N2.184 billion in 6,090 deals on Wednesday with Champion Breweries Plc the most traded stock by volume and value at 1.91 billion shares and N4.95 billion respectively.
By Obinna Chima
Despite the disruptive impact of the COVID-19 and the attendant lockdown, the nine months 2020 financial results of 13 commercial banks have shown that they raked in a total of N36.759 trillion as customers’ deposits.
This represented an increase of N6.931 trillion or 23 per cent as against the N29.828 trillion reported in the comparable period of 2019.
The banks are Zenith Bank, United Bank for Africa Plc, Access Bank Plc, Fidelity Bank Plc, FCMB, FBN Holdings, Guaranty Trust Bank Plc, Union Bank of Nigeria Plc, Ecobank Transnational Incorporated, Stanbic IBTC, Wema Bank, Unity Bank, and Sterling Bank Plc.
The results were compiled by THISDAY from the banks’ respective nine-month reports for the period, which the banks presented to the Nigerian Stock Exchange (NSE).
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At the backdrop of the recent bullish (trend in the) stock market, just six companies listed on the Nigerian Stock Exchange, NSE, now account for 71 percent of the market size, while a set of 15 accounts for about 90 percent of the market.
The total number of companies on the NSE as at last weekend is 165 with 150 of them confined to the little fragments of the market.
The market capitalisation of the six dominating companies hit N13.722 trillion last weekend while the total market capitalization peaked at N19.236 trillion.
The NSE market capitalisation of the equities refers to the total value of the equities of all the 165 companies listed on the Exchange.