Investors gain N2.3tr in three days as capitalisation crosses N82tr

The bulls continued to strengthen hold on the equities sector of the Nigerian Exchange Limited (NGX) even as investors repositions ahead of the half-year earnings and interim dividend declaration.

This comes as market capitalisation soars by N2.3 trillion in three trading days. Market capitalisation of listed equities rose by N2.3 trillion to N82. 417 trillion yesterday, from N80.143 trillion at which it reopened for trading on Monday.

The all-share index also appreciated by 3,594.33 points or 2.8 per cent from 126,689.54 to 130,283.87. Analysts at Afrinvest said: “Investor sentiment, as measured by market breath, worsened to -0.30x (previously: -0.07x) as 30 stocks gained, 46 lost while 53 were unchanged.

“Tomorrow, we anticipate a modest performance on the bourse, as selective buying offsets profit booking.” Yesterday’s positive performance was driven by price appreciation in large and medium capitalised stocks amongst which are: BuaCement, Dangote Cement, FirstHoldco, Chams, Eunisell , PZ Cornerstone Insurance among others

BuaCement led gainers table with 10 per cent to close at N112.20 kobo. Dangote Cement followed with a gain of 9.99 per cent to close at N473.30 kobo, Chams Plc added 9.96 per cent to close at N3.09 kobo. FirstHoldco gained 9.94 per cent to close at N35.40 kobo, ABC Transport also increased by 9.85 per cent to close at N5.69 kobo.

On the other hand, May& Baker and Berger Paint led others on the losers chart, dropping by 10 per cent to close at N15.30 kobo and N33.75 kobo respectively while HMCall and RTBriscoe also depreciated by 10 per cent to close at N4.68 kobo and N3.42 kobo. Mecure also dipped by 10 per cent to close at N11.70 kobo.

Volume of trades declined by 10.477 billion, representing 89.78 per cent as investors traded 1.193 billion shares valued at N42.756 billion in 37418 deals against 11.670 billion shares worth N363.412 billion exchanged hands the previous day in 36635 deals reported the previous day.

Transactions on the shares of Access Holdings led market activities with 168.099 million shares valued at N4.622 billion, FirstHoldco followed with account of 86.415 million shares valued at N3.044 billion.

Zenith Bank traded 83.356 million shares worth N6.291 billion, Nigerian Breweries exchanged 68.566 million shares worth N5.084 billion, AIICO Insurance traded 65.251 million shares valued at N139.267 million.