Market Capitalisation Crosses N140trn Mark on Corporate Earnings, Demand 

Kayode Tokede

The market capitalisation of listed companies on the Nigerian Exchange Limited (NGX), yesterday crossed the N140trillion mark  as corporate earnings and other factors continued to soar demand for fundamental stocks.

This makes it the first time the market capitalisation will cross the N140 trillion mark/ 

The NGX All-Share Index gained by 946.27 basis or 0.44 per cent to close at 218,113.84 basis points. Similarly, the overall market capitalisation value rose by N609 billion to close at N140.436 trillion.

The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Aradel Holdings, Nigerian Aviation Handling Company (NAHCO), Vitafoam Nigeria, Unilever Nigeria and Lafarge Africa.

Market breadth was positive, as 36 advancers outpaced 34 decliners. NAHCO and Union Dicon Salt recorded the highest price gain of 10 per cent each to close at N242.00 and N18.15 respectively, while Fidelity Bank followed with a gain of 9.98 per cent to close at N22.05, per share.

Trans-Nationwide Express rose by 9.92 per cent to close at N6.65, while Access Holdings appreciated by 9.87 per cent to close at N32.85, per share.

On the other hand, Stanbic IBTC Holdings and LivingTrust Mortgage Bank led the losers’ chart by 10 per cent each to close at N169.70 and N4.10 respectively, while Transcorp Power followed with a decline of 9.97 per cent to close at N272.70, per share.

Abbey Mortgage Bank lost 9.88 per cent to close at N7.30, while Guinea Insurance declined by 8.80 per cent to close at N1.14, per share.

The total volume traded declined by 21.79 per cent to 983.948 million units, valued at N50.769 billion, and exchanged in 76,410 deals. Transactions in the shares of Access Holdings topped the activity chart with 91.647 million shares valued at N2.976 billion. First Holdco followed with 70.169 million shares worth N4.779 billion, while Zenith Bank traded 54.928 million shares valued at N7.004 billion.

Lasaco Assurance traded 53.757 million shares valued at N107.491 million, while United Bank for Africa (UBA) transacted 52.569 million shares worth N2.653 billion.

For this week, United Capital Plc said, “the Nigerian equity market is expected to maintain a cautious, mildly bullish tone this week, as investors balance improving macro fundamentals and attractive valuation in some selected banking stocks against continued attractiveness of fixed income yields.

“Sentiment will remain stock-selective, with positioning likely concentrated in dividend-paying banking and consumer names ahead of earnings-related expectations. However, elevated Treasury bill and bond yields continue to act as a major competing asset class, limiting broad-based equity re-rating. Overall, the market is likely to remain range-bound with selective upside, driven more by earnings and stock-specific catalysts than broad sentiment expansion.”