Stock Market Crosses N25trn Mark Amid Demand for Airtel Africa, Others

Kayode Tokede

The stock market capitalisation of the Nigerian Exchange Limited (NGX) crossed the N25 trillion mark yesterday, supported by foreign investors’ demand for Airtel Africa stock that gained 10 per cent.

In summary, the NGX All-Share Index (ASI) grew by 590.48 basis points or 1.29 per cent to close at 46,529.99 basis points from 45,939.51 basis points it opened for trading, while the overall market capitalisation value gained N318 billion to close at N25.073 trillion from N24.755trillion it closed the previous day.

Consequently, the Year-to-Date return increased to 8.9per cent.

Across sectors, the NGX Banking Index gained 1.3per cent was the sole gainer, while the Industrial Goods dropped by 1.9per cent , Insurance declined by 0.6 per cent, Oil & Gas and Consumer Goods declined by 0.6 per cent and 0.4 per cent respectively.

Market sentiment, as measured by market breadth closed at par, recording 19 gainers and 19 losers.

Airtel Africa recorded the highest price gain of 10 per cent to close at N1,271.00, per share. ETI followed with a gain 9.55 per cent to close at N10.90, while Courteville Business Solutions up by 9.09 per cent to close at 60 kobo, per share.

Academy Press rose by 8.86 per cent to close at 86 kobo, while Learn Africa appreciated by 8.53 per cent to close at N1.40, per share.

On the other hand, Cadbury Nigeria led the losers’ chart by 9.47 per cent, to close at N8.60, per share. Prestige Assurance followed with a decline of 8.70 per cent to close at 42 kobo, while Champion Breweries declined by 7.84 per cent to close at N2.35, per share.

Linkage Assurance shed 7.14 per cent to close at 52 kobo, while NEIMETH International Pharmaceuticals depreciated by 5.26 per cent to close at N1.80, per share.

The total volume of trades rose by 32.8 per cent to per cent to 328.997 million units, valued at N4.817 billion, and exchanged in 4,219 deals. Transactions in the shares of Multiverse Mining and Exploration topped the activity chart with 57.599 million shares valued at N11.888 million. Mutual Benefits Assurance followed with 48.258 million shares worth N12.132 million, while Guaranty Trust Holding Company (GTCO) traded 36.747 million shares valued at N936.852 million.

Chams traded 22.060 million shares valued at N4.585 million, while Nigerian Breweries transacted 13.368 million shares worth N632.536 million.