Stock: Investors Gain N110bn, Market Cap Hits N14trn

The market capitalisation of the Nigerian equities market rose to N14tn on Wednesday for the first time since March 2020, amidst a sharp drop in fixed income yields following further monetary easing by the Monetary Policy Committee.

The key market performance indicators, Nigerian Stock Exchange All-Share Index appreciated by 0.85 per cent. The market breadth closed positive with 20 gainers against eight losers.

The ASI grew by 225.46 basis points or 0.85 per cent from 26,611.96 basis points on Tuesday to 26,837.42 while the market capitalisation of equities appreciated by N110bn to close at N14.02tn from N13.91tn.

On the activity chart, the premium subsector dominated in volume with 129.23 million shares exchanged in 1,713 deals.

The subsector was enhanced by trading activities on the shares of Zenith Bank Plc and Access Bank Plc.

The banking subsector was boosted by the trading activities on the shares of Fidelity Bank Plc and Sterling Bank Plc, with 116.68 million units traded in 671 deals.

In all, investors exchanged a total of 322.77 million shares traded in 4,046 deals.

A further analysis of the day’s trading showed that Total Nigeria Plc led the gainers chart with 20 per cent to close at N96.80 per share.