Nigerian equities appreciates by N9.4trn in four days
The Nigerian equities market has appreciated by N9.4 trillion in its fourth consecutive trading activities this week to close at N156.547 trillion from N147.103 trillion it opened for trading this week.
Consequently, the Nigerian Exchange Limited All Share Index (NGX ASI) in its Month-to-Date and Year-to-Date returns settled higher at +6.3per cent and +56.8per cent, respectively.
The breakdown by WESTERNPOST revealed that the market capitalisation of listed equities gained N3.168 trillion opening on Monday to close at N150.271 trillion on investors’ demand for large and medium capitalised stocks amongst which are; Aradel Holdings, Dangote Cement, Lafarge Africa, Nigerian Exchange Group and MTN Nigeria Communications .
The NGX ASI gained 4,937.89 basis points or 2.15 per cent to close at 234,178.23 points.
On Tuesday, the equities market section of the NGX sustained its positive momentum with a gain of N1.865 trillion on sustained demand for large-cap stocks signals improving market confidence as investors continue to position in fundamentally sound equities.
The NGX ASI gained 2,905.05 basis points qr 1.24 per cent to close at 237,083.28 basis points. Also, market capitalisation rose by N1.865 trillion to close at N 152.136 trillion.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Dangote Cement, Aradel Holdings, MTN Nigeria Communications, Lafarge Africa and Vitafoam Nigeria.
On Wednesday, the market capitalisation of listed equities gained N3.45 trillion as sustained buying interest continued to strengthen investor sentiment across the bourse.
The NGX AII gained by 5,376.70 basis points or 2.27 per cent to close at 242,459.98 basis points. Similarly, the overall market capitalisation value rose by N3.45 trillion to close at N155.586 trillion. The market positive performance was driven by price appreciation in Airtel Africa, Aradel Holdings, Dangote Cement, Lafarge Africa, and Zichis Agro Allied Industries.
In addition, the market capitalization of listed equities on Thursday advanced by N961.75 trillion to N156.547 trillion from N155.586 trillion it opened for trading, driven by gains in First Holdco (+9.96per cent), MTN Nigeria (+3.85per cent) and Zenith Bank (+3.29per cent).
