NSE: Market capitalisation hits N20trn, records 45 per cent YtD increase

Equities trading at the Nigerian Stock Exchange (NSE), on Wednesday, close bullish as the market sustains rally following buying interest in large capitalised stocks.

Basically, the All-Share Index (ASI) rose by 2.40 per cent to 38,803.74 points amid sustained bargain hunting activity even as the Exchange recorded 26 gainers as against seven losers at the close of the trading session.

Investors gain N475.69 billion as the market capitalisation crossed N12 trillion mark to settle at N12.28 trillion on Wednesday.

Hence, the Year-to-Date (YtD) gain of the NSE ASI advanced to 44.56 per cent, while Month-to-Date (MtD) stands at 10.7 per cent increase.

Wednesday trading session was largely influenced by demands of blue-chip stocks such as Airtel Africa, BUA Cement

On the performance chart, ABC Transport and Airtel Africa recorded the largest gains of the day having added ten per cent to their respective shares, while FCMB and PZ topped the losers’ list after 4.0 per cent and 3.6 per cent respective decline in share value.

Of the five indices tracked, three closed in the green while others moved in mixed directions. The NSE Banking, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices rose by 0.18 per cent, 0.40 per cent and 3.10 per cent respectively. However, the NSE Insurance index fell by 0.81 per cent while the NSE Oil/Gas closed flat.

Meanwhile, activity in the market was upbeat as the total volume and value of stocks traded rocketed by 238.56 per cent and 82.24 per cent to 1.49 billion units and N18.74 billion respectively.

Access Bank was the most traded stock by volume and value at 1.04 billion units and N8.40 billion, respectively.

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