The Nigerian Stock Exchange (NSE) market capitalisation yesterday closed trading for the month of September at N14 trillion amid sustained bargain hunting activity.
The All-Share Index (ASI) increased by 201.80 absolute points, representing a growth of 0.76 per cent to close at 26,813.76 points. Similarly, the overall market capitalisation size gained N117 billion, representing an increase of 0.84 per cent to close at N14.025 trillion.
The difference in the indices is as a result of the listing Dangote Sugar Refinery Plc additional 146.88 million ordinary shares on the daily official list of the Nigerian Stock Exchange (NSE).
The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Total Nigeria, Dangote Cement, MTN Nigeria Communications, Guaranty Trust Bank and UAC of Nigeria (UACN).
Analysts at Afrinvest Limited said “We remain optimistic about a sustained bullish run as we approach earnings season.”
Market sentiment, as measured by the market breadth, closed positive, as 20 stocks gained, relative to eight losers. Total Nigeria recorded the highest price gain of 10 per cent, to close at N96.80, per share. Eterna followed with a gain 9.60 per cent to close at N2.74, while UACN rose by 9.45 per cent to close at N6.95, per share.
Wapic Insurance went up by 5.71 per cent to close at 37 kobo, while Jaiz Bank appreciated by 5.17 per cent, to close at 61 kobo, per share. On the other hand, University Press led the losers’ chart by 6.77 per cent, to close at N1.24, per share. Nigerian Breweries followed with a decline of 6.76 per cent to close at N49.00, while PZ Cussons Nigeria lost 5.88 per cent to close at N4.00, per share.
Wema Bank shed 5.26 per cent to close at 54 kobo, while Union Bank of Nigeria (UBN) depreciated by 2.91 per cent to close at N5.00, per share.
However, the total volume traded decreased by 21.87 per cent to 322.773 million shares, worth N4.039 billion, and traded in 4,046 deals. Transactions in the shares of Sterling Bank topped the activity chart with 83.687 million shares valued at N105.436 million. Access Bank followed with 46.104 million shares worth N308.345 million, while Zenith Bank traded 24.871 million shares valued at N443.397 million.
Lafarge Africa traded 18.703 million shares valued at N280.591 million, while Fidelity Bank transacted 17.195 million shares worth N32.184 million.