As a result of increasing interest in Airtel Africa and 15 stocks, the market capitalization of the Nigerian Exchange Limited (NGXequity )’s market climbed by N202 billion yesterday.
The All Share Index (ASI) specifically increased by 372.57 absolute points, or 0.81 percent, to close at 46,604.94 points. As a result, investors made N202 billion in profit as the market valuation increased to N25.384 trillion.
Gains in medium- and large-capitalized stocks, including Airtel Africa, BUA Foods, Nigeria Breweries, Ecobank Transnational Incorporated (ETI), and Eterna, had an impact on the recovery.
But despite 16 stocks posting gains and 23 stocks posting drops, market breadth ended in the negative. The largest price increase, of 8.57 percent, was registered by AXA Mansard Insurance, which closed at N1.90 per share. Nigeria Breweries came in second, rising 6.79% to settle at N48.00, and ETI increased 6.50% to close at N10.65 a share.
BUA Foods increased by 6.11 percent to conclude at N63.40 per share, while Airtel Africa increased by 6.30 percent to close at N1,350.00.
However, Nestle Nigeria and Red Star Express, which closed at N1,071.00 and N2,07 respectively, headed the losers’ table by 10% each, while Computer Warehouse Group (CWG) was next with a drop of 9.09% cent to close at 80 kobo, per share.
International Breweries lost 5.38 percent to settle at N4.40 per share, while Lafarge Africa lost 6.22 percent to close at N21.10.
A total of 3,434 deals involving 138.601 million shares totaling N2.171 billion were completed, a decrease of 26.2% in total trade volume. With 24.248 million shares changing hands for N34.938 million, transactions in Sterling Bank shares topped the list of activity. ETI traded 10.553 million shares valued at N107.579 million, Transnational Corporation of Nigeria (Transcorp) followed with 21.791 million shares worth N25.733 million.
Jaiz Bank traded 7.743 million shares worth N6.664 million, while Access Holdings traded 8.614 million shares worth N73.883 million.