NGX Market Capitalisation Crosses N132trn As 40 Stocks Rally

The Nigerian Exchange overall market capitalisation crossed the N132 trillion mark, buoyed by gains recorded in 40 listed stocks.

The All-Share Index (ASI) gained 1,372.52 points, representing a gain of 0.67 per cent to close at 205,831.38 points. Also, market capitalisation rose by N883 billion to close at N132.492 trillion.

On market outlook, Futureview Group stated that “the market is expected to sustain its positive bias in the near term as investors continue to position in fundamentally sound stocks, although intermittent profit-taking could temper the upside.”

The upturn was driven by price appreciation in large- and medium-capitalised stocks, including Seplat Energy, Nigerian Exchange Group, Stanbic IBTC Holdings, Lafarge Africa, and MeCure Industries.

Investor sentiment remained largely positive, as market breadth closed with 40 gainers against 21 decliners.

Ecobank Transnational Incorporated (ETI) and Stanbic IBTC Holdings emerged as the top gainers, rising 10 per cent each to close at N4.60 and N161.70, respectively, while Nigerian Exchange Group followed with a 9.97 per cent gain to close at N168.75 per share.

Cornerstone Insurance rose by 9.94 per cent to close at N5.64, while MeCure Industries appreciated by 9.92 per cent to close at N67.60 per share.

On the other side, Fortis Global Insurance led others on the losers’ chart with 8.20 per cent to close at N1.12 per share. McNichols Consolidated followed with a decline of 8.17 per cent to close at N6.52, while Academy Press shed 6.96 per cent to close at N7.35 per share.

International Energy Insurance lost 6.88 per cent to close at N3.25, while Gunea Insurance depreciated by 5.83 per cent to close at N1.13 per share.

The total volume traded appreciated by 21.13 per cent to 569.309 million units, valued at N32.250 billion, and exchanged in 45,777 deals.

Transactions in the shares of Access Holdings led the activity with 67.530 million shares worth N1.746 billion. Zenith Bank followed with account of 39.741 million shares valued at N4.50 billion, while VFD Group traded 37.607 million shares valued at N422.984 million.

Guaranty Trust Holding Company (GTCO) traded 30.566 million shares worth N3.796 billion, while Lasaco Assurance traded 26.305 million shares worth N52.612 million.