Market cap rises above N12tn as 14 stocks gain

Market cap rises above N12tn as 14 stocks gain

Market cap rises above N12tn as 14 stocks gain

The market capitalisation of equities listed on the Nigerian Stock Exchange rose above the N12tn mark at the end of trading on Tuesday.

The market capitalisation, which had earlier dropped below N12tn in August, gained N83.5bn to close at N12.117tn on Tuesday from N12.033tn on Monday as 185.192 million stocks valued at N2.35bn exchanged hands in 3,180 deals.

Fourteen gainers beat 19 losers as the All Share Index increased by 0.69 per cent to settle at 33,191.45 basis points.

Activity level weakened as volume and value traded dropped by 39.3 per cent and 110.6 per cent, respectively, while the year-to-date loss moderated at 13 per cent.

The top traded stocks by volume were First City Monument Bank Plc (27.551 million units), Transnational Corporation of Nigeria Plc (24.871 million units) and Guaranty Trust Bank Plc (15.179 million units), while the top traded stocks by value were GTB (N553.9m), Access Bank Plc (N118.75m) and United Bank for Africa Plc (N115.60m).

Three out of five indices closed positively, with the industrial goods advancing the most by 0.9 per cent on the back of gains in Dangote Cement Plc.

The consumer goods followed, rising by 0.2 per cent on the back of gains in Nestle Nigeria Plc and Dangote Flour Mills Plc; while the oil and gas index rose by 0.1 per cent on the back of gains in Oando Plc.

On the flip side, the insurance index declined by 0.7 per cent due to losses in Niger Insurance Plc and NEM Insurance Plc, while the banking index shed 0.6 per cent on account of sell-offs in Ecobank Transnational Incorporated and UBA.

The top five gainers were Transcorp, Honeywell Flour Mills Plc, FBN Holdings Plc, Wema Bank Plc and Diamond Bank Plc, whose share prices increased by 9.60 per cent, 4.35 per cent, 4.32 per cent, 3.33 per cent and 3.25 per cent, respectively.

The top five losers were First Aluminium Nigeria Plc, PZ Cussons Nigeria Plc, Mcnichols Plc, Niger Insurance and Ecobank Transnational Incorporated, whose share prices dropped by 9.09 per cent, 7.66 per cent, 7.41 per cent, 7.14 per cent and 5.04 per cent, respectively.

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