Market capitalization soars by N55billion

Market capitalization of the Nigerian Stock Exchange, NSE, soared by N55 billion at the end of last week, March 31, reversing the two days downward trend.

The market capitalization which opened at N8.649 trillion rose by 0.64 per cent or N55 billion to close at N8.704 trillion due to price gains by some blue chips.

An analysis of the activity chart showed that FCMB Group emerged the most traded stock, accounting for 44.39 million shares valued at N38.09 million.

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Fidelity Bank sold 34.85 million shares worth N46.24 million and Sterling Bank traded 32.43 million shares valued at N52.50 million. GT Bank trailed with an exchange of 30.75 million shares worth N442.24 million, while FBN Group recorded 19.77 million shares valued at N61.01 million.

In all, investors staked N1.94 billion on 264.04 million shares traded in 3,298 deals against 504.21 million shares worth N2.14 billion transacted in 3,374 deals on Wednesday.