Stock Market Capitalisation Hits N136trn As Risk-On Sentiment Drives N1.7trn Investor Gain

The Nigerian stock market capitalisation climbed to N136 trillion as persistent risk-on sentiment fueled broad buying, handing investors N1.664 trillion in gains.

The advance reflects sustained appetite for equities, with large-cap and growth counters attracting inflows amid improving confidence in the market’s near-term outlook.

The All Share Index (ASI) gained by 2,583.61 points, representing a growth of 1.23 per cent to close at 211,901.02 points. Also, market capitalisation gained N1.664 trillion to close at N136 436 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Aradel Holdings, MTN Nigeria Communications (MTNN), Stanbic IBTC Holdings, Dangote Sugar Refinery and Ecobank Transnational Incorporated (ETI).

On the market outlook, Cowry Assets Management Limited said, “heading into Friday’s session, the market is expected to maintain its bullish bias, albeit with muted trading activity as investors adopt a more cautious stance toward the end of the week.”

Market breadth was strongly positive as 44 advancers outpaced 20 decliners. Guinea Insurance and Trans-Nationwide Express recorded the highest price gain of 10 per cent each to close at N1.21 and N5.50 respectively, while Aradel Holdings followed with a gain of 9.99 per cent to close at N1,547.50, per share.
Ecobank Transnational Incorporated up by 9.97 per cent to close at N61.20, while DAAR Communication appreciated by 9.93 per cent to close at N1.66, per share.
On the other hand, Ikeja Hotel led the losers’ chart by 9.73 per cent to close at N33.60, per share. Wapic Insurance followed with a decline of 8.77 per cent to close at N2.60, while CAP declined by 8.61 per cent to close at N95.00, per share.
International Energy Insurance depreciated by 8.18 per cent to close at N3.03, while McNichols Consolidated declined by 5.82 per cent to close at N6.31, per share.

Meanwhile, the total volume traded declined by 17.19 per cent to 584.961 million units, valued at N34.759 billion, and exchanged in 45,559 deals. Transactions in the shares of Zenith Bank topped the activity chart with 61.741 million shares valued at N7.599 billion. United Bank for Africa (UBA) followed with 45.865 million shares worth N2.113 billion, while Access Holdings traded 42.760 million shares valued at N1.153 billion.

Secure Electronic Technology traded 38.491 million shares valued at N37.544 million, while Guaranty Trust Holding Company (GTCO) sold 25.264 million shares worth N3.231 billion.