The local stock market yesterday crossed the N72 trillion mark by market capitalisation as Investors gain N1.157 trillion in one day amid the positive momentum seen so far this week.
Following investors demand for MTN Nigerian Communications Plc and Oando Plc, the Nigerian Exchange Limited All Share Index (NGX ASI) appreciated by 1,835.02 basis points or 1.63 per cent to close at 114,616.75 basis points.
Accordingly, market capitalisation rose by N1.157 trillion to close at N72.275 trillion.
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Investor sentiment, as measured by market breath closed positive as 41 stocks gained relative to 22 losers.
Champion Breweries and NGX Group recorded the highest price gain of 10 per cent each to close at N7.70 and N39.60 respectively, while MTN Nigeria Communications followed with a gain of 9.99 per cent to close at N319.20, per share.
Oando went up by 9.96 per cent to close at N56.85, while Morison Industries appreciated by 9.90 per cent to close at N3.22, per share.
On the other hand, NNFM led the losers’ chart by 9.97 per cent, to close at N125.05, per share. ABC Transport followed with a decline of 9.77 per cent to close at N2.40, while Legend Internet declined by 9.49 per cent to close at N5.34, per share.
Livestock Feeds depreciated by 7.82 per cent to close at N8.25 and Omatek Ventures declined by 7.59 per cent to close at 73 kobo, per share.
The total volume traded advanced by 139.1 per cent to 1.462 billion units, valued at N33.474 billion, and exchanged in 16,410 deals.
Transactions in the shares of Fidelity Bank topped the activity chart with 829.726 million shares valued at N15.971 billion.
Legend Internet led with 180.300 million shares worth N1.018 billion, while Zenith Bank traded 62.817 million shares valued at N3.127 billion.
Japaul Gold & Venture traded 34.839 million shares valued at N69.605 million, while Guaranty Trust Holding Company (GTCO) sold 30.906 million shares worth N2.164 billion.
On market outlook, a group of analysts at Afrinvest Limited said, “we expect the local bourse to resume from the two-day holidays on a slight bearish note driven by profit taking activities.”
