Stock Market Capitalisation Crosses N40trn

The domestic stock market sustained its bullish streak in yesterday’s session as the overall capitalisation crossed N40 trillion.

The All Share Index (ASI) rose by 927.61 points, representing a gain of 1.28 per cent to close at 73,397.71 points. Also, market capitalisation appreciated by N507 billion to close at N40.164 trillion.

The uptrend was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Airtel Africa, Presco, Stanbic IBTC Holding, Transcorp Hotels and Northern Nigeria Flour Mills (NNFM).

As measured by market breadth, market sentiment was positive, as 37 stocks gained relative to 24 losers. Multiverse Mining & Exploration and Transnational Corporation (Transcorp) recorded the highest price gain of 10 per cent each to close at N11.55 and N7.70 respectively, while Infinity Trust Mortgage Bank followed with a gain of 9.97 per cent to close at N3.75, per share.

eTranzact International appreciated by 9.73 per cent to close at N6.20, while Caverton Offshore Support Group appreciated by 9.66 per cent to close at N1.93, per share.

On the other hand, Tantalizers led the losers’ chart by 10 per cent to close at 45 kobo, per share. Thomas Wyatt Nigeria followed with a decline of 9.86 per cent to close at N2.65, while The Initiates Plc (TIP) lost 9.32 per cent to close at N1.07, per share.

Juli depreciated by 9.23 per cent to close at 59 kobo, while Chams Holding Company declined by 9.05 per cent to close at N1.81, per share.
The total volume traded increased by 34.8 per cent to 554.64 million units, valued at N12.83 billion, and exchanged in 7,910 deals.

Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 89.454 million shares valued at N3.578 billion. Access Holdings followed with 59.715 million shares worth N1.367 billion, while Transcorp traded 51.959 million shares valued at N374.570 million.
FCMB Group traded 29.400 million shares valued at N211.978 million, while United Bank for Africa (UBA) sold 24.83 million shares worth N625.594 million.