BUSINESS Stock market capitalisation crosses N13trn in 34 months FG approves 60% local content for railway projects

The Nigerian Stock Exchange (NSE) market capitalisation yesterday crossed the N13 trillion mark for the first time since October 2014.

The market capitalization added N164 billion to close at N13, 097 trillion.

The NSE All Share Index (ASI) appreciated by +1.26% to close at 37,999.56 basis points as against +0.27% appreciation recorded previously. Its Year-toDate (YTD) returns currently stands at +41.40%.

Market breadth closed positive as Guinness led 31 Gainers as against 20 Losers topped by MORISON at the end of today’s session- an improved performance when compared with previous outlook.

Market turnover closes negative as volume moved down by -14.25% as against -50.63%downtick recorded in the previous session. FCMB, ZENITHBANK and STERLNBANK were the most active to boost market turnover. NESTLE and NB topped market value list.

EQUITYASUR leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

The summary of the trading activities shows that a total of 218 million shares, valued at N5.07 billion, exchanged hands in 5,336 deals

Similarly, petroleum giant, notified that Mobil Oil Nigeria Plc notified the NSE that It has changed its name to 11 Plc (pronounced as “Double One Plc”).

The change is sequel to the resolution passed by the company’s shareholders at its Annual General Meeting (AGM) held on 24 May 2017. The Company has since obtained a new Certificate of Incorporation from the Corporate Affairs Commission (CAC) bearing the new name.

The change of name will be implemented by The Nigerian Stock Exchange with effect from Friday 11 August 2017. FLIGHT

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