Nigerian stock market value hits N20tn

Trading activity on the floor on the Nigerian Exchange Limited on Monday started on a positive territory, pushing the market capitalisation to return to the N20tn mark.

The market cap, which opened at N19.94tn, rose to N20.03tn, as well as the All-Share Index that advanced by 0.47 per cent to close at 38,437 points amid bargain hunting activity.

The trading session saw investors gain N94.29bn, leaving the year-to-date loss of the ASI to fall to -4.5 per cent and the market to record 21 losers and 17 gainers.

Buying pressure on heavy weight stocks such as BUA Cement, MTN Nigeria Communications and Guaranty Trust Bank lifted their share prices by 2.78 per cent, 0.99 per cent and 1.43 per cent respectively.

Three of the five indices tracked closed in the green zone.

While the banking, oil and gas and industrial indices rose by 0.32 per cent, 0.01 per cent and 1.13 per cent, the insurance and consumer goods indices fell by 0.51 per cent and 0.21 per cent respectively.

At the close of the day’s trading, the total volume of stocks dropped by 11.73 per cent to 201.86 million units, valued at N2.12bn in 3,827 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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