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The Nigerian capital market sustained its Santa Claus’ rally yesterday with the market capitalisation of listed equities crossing the N40 trillion mark.
At the close of transactions, market capitalisation soared significantly by N599 billion or 1.51 per cent to N40.164 trillion from N39.656 trillion reported the previous day.
All-share index (ASI) also appreciated by 927.61 basis points to 73397.71 points from 72470.1 points reported on Tuesday. The upturn was impacted by gains recorded in medium and large capitalised stocks among which are Airtel Africa, Presco, Stanbic IBTC, Transcorp Hotel, Northern Nigeria Flour Mills, Cadbury, United Capital and Multiverse.
On what will shape the market in the next trading sessions, analysts at Vetiva Dealing and Brokerage said: “We expect a similar mixed session tomorrow, as investors continue to cherry-pick attractive names across the board while taking profit on recent gainers.”
On the price movement chart, 37 stocks appreciated while 23 constituted the losers’ chart. Multiverse, Transnational Corporation of Nigeria led the gainers’ table in percentage terms, appreciating 10 per cent each to close at N11.55 kobo and N7.70 kobo respectively.
Infinity Savings followed with 9.97 per cent to close at N3.75 per unit, eTranzact gained 9.73 per cent to close at N6.75 per unit, Caverton Business Solutions added 9.66 per cent to close at N1.93 per share.
However, Tantalizer topped the losers’ chart, declining by 10 per cent to close at 45 kobo while Thomas Way trailed with a loss of 9.86 per cent to close at 45 kobo. TIP Plc dipped by 9.32 per cent to close at N1.07 kobo. Thomas Wyatts fell by 9.86 per cent to close at N1.07 kobo. Juli Pharmaceutical was down by 9.23 per cent to close at 59 kobo. Chams Plc also dipped by 9.05 per cent to close at N1.81 kobo.
The volume of transactions also grew by 143.431 million shares, representing 34.88 per cent as investors traded 554.644 million shares valued at N12.829 billion in 7910 deals against 411.213 million shares at N6.948 billion exchanged hands the previous day in 6870 deals.
Transactions in the shares of GTCO Plc led market activities with 89.454 million shares valued at N3.578 billion, AccessCorp followed with an account of 59.714 million shares worth N1.366 billion, Transcorps sold a total of 51.959 million shares cost N374.57 million, FCMB group exchanged 29.400 million shares cost N211.977 million while United Bank for Africa exchanged 24.829 million shares cost N625.894 million.
Meanwhile, MTN Nigeria Communications Plc, VFD Group Plc, CardinalStone Securities and Chapel Hill Denham were big winners at the just-concluded Made of Africa Awards organised by Nigerian Exchange Limited (NGX).
The Chief Executive Officer of Nigerian Exchange Limited, Temi Popoola, noted at the event that the annual Made of Africa Awards is aimed at encouraging more listings, transactions, better compliance and stimulating innovation in the capital market.
NGX MOA Awards is designed to recognise organisations and individuals within the Nigerian capital market ecosystem that demonstrate exceptional performance in value delivery and sustainable impact and act as key drivers in strengthening the Nigerian and African capital markets.
Speaking at the awards, Popoola said: “These awards serve as a platform to showcase the best the capital market has to offer, inspiring more private sector organizations, states and the federal government to list shares, issue debt securities, and inject fresh capital into the market. Through NGX Made of Africa, we remain committed to encouraging and incentivising our partners, and promoting inclusivity as we contribute to the development of the capital market.”
The exchange boss added that NGX takes pride in leading the way in innovation, excellence, and corporate governance best practices, hence the importance it attaches to “rewarding innovation, excellence and adherence to existing rules and regulations as fundamental to stakeholder collaboration in our market.
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