NGX Market Capitalization Surpasses N150 Trillion Mark
The Nigerian equities market achieved a historic milestone on Tuesday as the market capitalization crossed the N150 trillion threshold, recording a single-day gain of N5.554 trillion. The all-share index climbed by 8,625.79 points, or 3.77 percent, to close at 237,205.59 points. The overall market capitalization rose to N152.728 trillion, reflecting strong investor confidence.
The positive performance was driven by price appreciation in large and medium capitalized stocks, including Airtel Africa, Aradel Holdings, MTN Nigeria Communications (MTNN), Beta Glass, and Dangote Cement. Analysts at Cowry Assets Management Limited anticipate that the market will maintain its bullish bias, supported by investor positioning ahead of anticipated full-year dividend announcements, which typically spur accumulation during this phase of the earnings cycle.
Market Breadth and Top Gainers
Market breadth remained positive, with 48 gainers outpacing 42 decliners. Chemical and Allied Products (CAP), UACN, Zichis Agro Allied Industry, and Airtel Africa recorded the highest price gains of 10 percent each, closing at N132, N165, N19.80, and N3,021.30 respectively. Jaiz Bank followed with a gain of 9.99 percent to close at N8.81, while PZ Cussons Nigeria rose by 9.96 percent to close at N98.80.
Losers and Trading Activity
On the downside, Cadbury Nigeria and John Holt led the losers' chart with declines of 10 percent each, closing at N66.15 and N12.60 respectively. eTranzact International fell by 9.97 percent to close at N15.80, while Morison Industries lost 9.92 percent to close at N10.62. Haldane McCall declined by 9.74 percent to close at N3.43.
Total trading volume advanced by 38.96 percent to 1.334 million units, valued at N69.089 billion, executed in 83,445 deals. Access Holdings topped the activity chart with 242.2 million shares valued at N6.272 billion. United Bank for Africa (UBA) followed with 149.102 million shares worth N6.462 billion, while Lasaco Assurance traded 73.97 million shares valued at N144.487 million. Wema Bank recorded 55.078 million shares worth N1.897 billion, and Zenith Bank transacted 44.562 million shares valued at N5.545 billion.
