The market capitalisation of the Nigerian Stock Exchange (NSE) hit N20 trillion at the end of transactions yesterday, as sentiments remained upbeat for the eight successive sessions.
At the close of trading, the overall market capitalisation appreciated by N476 billion to close at N20.281 trillion. Similarly, the All-Share Index (ASI) gained 910.13 absolute points, representing a gain of 2.40 per cent to close at 38,803.74 points.
The uptrend was driven by price appreciation in medium and large capitalised stocks such Airtel Africa, BUA Cement, Nigerian breweries, BOC Gases Nigeria and Vitafoam Nigeria.
Analysts at Afrinvest Limited said: “Following the sustained buying interest in the local bourse, we expect the market to close the week bullish.”
Also, market sentiment, as measured by market breadth, closed positive, as 26 stocks gained, relative to seven losers. Associated Bus Company and Japaul Gold and Ventures recorded the highest price gain of 10 per cent each to close at 33 kobo and 44 kobo, while Airtel Africa followed with a gain 9.99 per cent to close at N851.80 kobo.
Eterna went up by 9.98 per cent, to close at N4.96, while BOC Gases Nigeria appreciated by 9.85 per cent to close at N8.70. On the other hand, FCMB Group led the losers’ chart by 3.97 per cent to close at N2.90 kobo.
PZ Cussons Nigeria followed with a decline of 3.64 per cent, to close at N5.30 kobo while Lasaco Assurance shed 3.13 per cent to close at 31 kobo.
AXA Mansard Insurance shed three per cent to close at 97 kobo, while May and Baker Nigeria depreciated by 0.79 per cent to close at N3.75 kobo.
The total volume traded increased by 238.6 per cent to 1.497 billion shares, worth N18.748 billion, and traded in 4,316 deals.
Transactions in the shares of Access Bank topped the activity chart with 1.036 billion shares valued at N8.398 billion.
Veritas Kapital Assurance followed with 121.161 million shares worth N24.232 million, while Flour Mills of Nigeria traded 51.188 million shares valued at N1.362 million.
BUA Cement traded 50.658 million shares valued at N2.787 billion, while Zenith Bank transacted 43.182 million shares worth N1.058 billion.
