Stock Investors Gain N2.64trn As Market Cap Hits N163.16trn

No Result View All Result Home News Politics Business Sport Football Health Entertainment Education Opinion Editorial Columns Others LeVogue Magazine Conferences National Economy Contact Us Hausa Edition Home News Politics Business Sport Football Health Entertainment Education Opinion Editorial Columns Others LeVogue Magazine Conferences National Economy Contact Us No Result View All Result No Result View All Result Stock Investors Gain N2.64trn As Market Cap Hits N163.16trn by Olushola Bello 7 seconds ago in Business Share on WhatsAppShare on FacebookShare on XTelegram Investors on the Nigerian equities market gained N2.642 trillion yesterday as capitalization advanced to N163.16 trillion, reflecting the bullish momentum that lifted the All-Share Index back above 250,000.

The All-Share Index (ASI) gained 4,068.27 points, rising 1.65 per cent to close at 251,290.54, on renewed investor confidence and sustained buying interest across the bourse. Also, market capitalisation rose by N2.642 trillion, closing at N163.161 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Dangote Cement, Aradel Holdings, Nigerian Exchange Group, First Holdco and Guaranty Trust Holding Company (GTCO).

On market performance, analysts stated that the 1.65 per cent advance is positive, but negative breadth limits the strength of the signal, stating that follow-through will depend on broader participation, continued turnover and sustained performance in heavyweight stocks.

As measured by market breadth, market sentiment was negative (0.8x), as 24 tickers gained relative to 30 losers. On the gainers’ chart, Dangote Cement led with 10.00 per cent to close at N1,222.10, per share. Honeywell Flour Mills followed with a gain of 9.78 per cent to close at N19.65, while Royal Exchange rose by 9.18 per cent to close at N1.07 per share.

Nigerian Exchange Group up by 8.20 per cent to close at N165.00, while First HoldCo rose 7.56 per cent to close at N155.00, per share.

On the other side, ABC Transport led the losers’ chart, shedding 9.59 per cent to close at N6.60, per share. Caverton Offshore Support Group followed, declining 9.38 per cent to close at N4.35, while Livestock Feeds lost 9.09 per cent to close at N15.50, per share.

Champion Breweries dipped 8.16 per cent to close at N9.00, while PZ Cussons Nigeria fell 7.61 per cent to close at N63.70, per share.

The total volume traded declined by 6.9 per cent to 329.53 million units, valued at N25.45 billion, and exchanged in 43,700 deals. Transactions in the shares of Zenith Bank led the activity with 25.919 million shares worth N3.110 billion. United Bank for Africa (UBA) followed with account of 23.994 million shares valued at N979.614 million, while Access Holdings traded 18.006 million shares valued at N487.829 million.

Fidelity Bank traded 17.539 million shares worth N396.980 billion, while First Holdco traded 14.373 million shares worth N2.101 billion.

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