NGX market capitalisation crosses N25trn mark on Airtel Africa rally

The nation’s bourse sustained positive momentum on Wednesday with the market capitalisation growing by N318 billion on Airtel Africa rally to cross over N25 trillion mark.

Specifically, the market capitalisation rose by N318 billion to close at N25.073 trillion against N24.755 trillion achieved on Tuesday.

Also, the All-Share Index crossed 46,000 mark, growing by 590.48 points or 1.29 per cent to close at 46,529.99 from 45,939.51 posted on Tuesday.

Consequently, the year-to-date return increased to 8.9 per cent.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Airtel Africa, Ecobank Transnational Incorporated, Julius Berger, United Capital and Learn Africa.

Market breadth closed at par with 19 gainers and 19 losers.

Airtel Africa drove the gainers’ chart in percentage terms by 10 per cent to close at N1,271 per share.

ETI followed with 9.55 per cent to close at N10.90, while Courteville Business Solutions up by 9.09 per cent to close at 60 per share.

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

On the other hand, Cadbury led the losers’ chart in percentage terms by 9.47 per cent to close at N8.60 per share.

Prestige Assurance followed with 8.70 per cent to close at 42k, 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 52k, while Neimeth International Pharmaceuticals depreciated by 5.26 per cent to close at N1.80 per share.

Similarly, the total volume of trades rose by 32.8 per cent to 328.99 million units valued at N4.82 billion in 4,219 deals.

This was in contrast with 247.69 million shares worth N3.58 billion traded in 4,242 deals on Tuesday.

Transactions in the shares of Multiverse Mining and Exploration topped the activity chart with 57.59 million shares valued at N11.89 million.

Mutual Benefits Assurance followed with 48.26 million shares worth N12.13 million, while Guaranty Trust Holding Company traded 36.75 million shares valued at N936.85 million.

Chams traded 22.06 million shares worth N4.59 million, while Nigerian Breweries transacted 13.37 million shares worth N632.54 million.