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

Daily Trust - - NEWS - From Sun­day Michael Ogwu, La­gos

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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