Equities market capitalisation crosses N35trn, as investors gain N580bn

The Nigerian equities market extended gains for the fifth consecutive session on a favourable trajectory, with investors continuing to exhibit a positive outlook towards prominent stocks.

The benchmark All Share Index (ASI)  closed at  65,669.29 absolute points, marking a  surge of 1.65 per cent  from its previous value of 64,603.60 absolute  points.

The market’s upward trajectory was primarily propelled by the strong performance of key stocks such as, DANGOTE CEMENT (+9.27 per cent), BUACEMENT (+6.59 per cent), and DANGOTE SUGAR (+0.55 per cent) outweighed losses in telco giant, MTNN (-0.71 per cent) alongside NESTLE Nigeria (-0.75 per cent), and ZENITH BANK (-2.01 per cent) keeping the market in the positive terrain.

Consequently, as a result, the ASI’s year-to-date (YTD) return increased to 28.13 per cent while the market capitalisation gained N580.23 billion to close at N35.76 trillion from N35.17 trillion it closed for previous trading day.

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 57.28 per cent.

The trade volume decreased by 54.1 per cent  to  844.72 million shares valued at N9.41 billion were exchanged in 8,922 deals.

CHAMS Holdings (+0.79 per cent) led the volume chart with 91.71 million units while GTCO (-0.28 per cent) led the value chart in deals worth N1.09 billion.

On the price movement chart, Sovereign Insurance, Omatek Ventures, Chellaram, FTNCocoa Processor and Transcohot the gainers with 10.00 per cent each increased to close at N0.55, N0.66, N1.76, N3.85, N39.50 per share respectively.

On the other hand, Consolidated Hallmark Insurance Plc led the losers with 10.00 per cent loss  to close at N1.17 per share, Champion Breweries which followed lost 9.89 per cent to close at N3.92 per share, while McNichols suffered 9.33 per cent loss to close at N0.68 per share.

PZ Cussion which recorded as the last fourth loser went down by 9.32 per cent to close at N19.95 per share, UPDC reak estate investment dipped by 9.21 per cent to close at N3.48 per share.

Transaction in the shares of Chans holdings topped the activities chart with 91.710 million shares were exchange in N117.149 million, First City Monument Bank which followed transacted 78.678 million shares worth N551.898 million, while Univinsure traded 75.008 million shares value at N22.953 million.

United Bank for Africa traded 55.110 million shares value at N795.321 million Transnational Corporation accounted 51.162 million shares worth N245.139 million.