Market Capitalisation Jumps N41 Billion as NGX Sustains Rally

Market Capitalisation Jumps N41 Billion as NGX Sustains Rally

Market capitalisation jumps N41.06 billion on Thursday as the Nigerian Exchange (NGX) sustains rally as investors continue to pump money into banking stocks to keep the local bourse bullish.

NGX has stronger positioning ahead of the third quarter of the financial year 2021 earnings season, sustaining the positive sentiment to three successive trading sessions.

Atlass Portfolios Limited stock analysts said the growth in the market indices was on the back of price appreciation in some medium and high capitalised stocks such as FBNH, WAPCO, STANBIC, and SEPLAT, NB amongst others.

The All-Share Index increased by 78.79 basis points, representing a growth of 0.19 per cent to close at 41,129.98 points. Market capitalisation gained ₦41.06 billion, a surge of 0.19 per cent to close at ₦21.43 trillion.

Similarly, the market activities traded positively following the 103.52 per cent and 145.65 per cent decline in the total volume and value traded, respectively, as 908.06 million units of shares valued at ₦10.97 billion were transacted in 5,151 deals.

FBNH outdid the traded stocks in terms of volume, accounting for 66.38 per cent of the total volume of trades, maintaining the position as the most trading stock, followed by GTCO (7.02%), CHAMPION (4.15%), UNIVINSURE (2.41%), and UBA (2.33%) to complete the top five on the volume chart.

Also, FBNH appeared as the most traded stock in value terms, with 64.83 per cent of the total value of trades on the exchange.

On the profitability list, CHAMPION led the gainers’ chart to emerge as the most profitable stock, with price appreciation of 9.71 per cent, trailed by AFRIPRUD (7.81%), FBNH (7.31%), UACN (3.29%), UCAP (3.28%), WAPCO (2.43%), STANBIC (1.83%), SEPLAT (1.83%), NB (1.08%), HONYFLOUR (0.90%) and 11 others.

On the contrary, LEARNAFRCA topped the losers’ chart as its share price dipped by 10.00 per cent to close at ₦1.26, as ETI (-8.16%), NEM (-4.46%), LIVESTOCK (-4.22%), ACCESS (-2.04%), DANGSUGAR (-1.12%), UBA (-0.60%) and ZENITH BANK (-0.40%) amongst others also declined in price.

The market breadth closed positively, recording 21 gainers and 14 losers. # Market Capitalisation Jumps N41 Billion as NGX Sustains Rally. NGX Closed Positive as Buying Interest Sustains Momentum