NSE: Heavyweight stocks push market capitalization up

The Nigerian bourse sustained its current bull run Thursday, recording its fourth straight gain as heavyweight stocks pushed market capitalisation close to the N12 trillion mark.

The All Share Index (ASI) climbed up by 0.67% to close at 23,021.01 basis points. The market capitalisation rose to N11.997 trillion at the end of today’s trade.

MTN, Ardova, WAPCO and Access Bank largely accounted for the positive drift, reflecting investors’ increasing appetite for blue-chip equities.

A positive market breadth was recorded as 21 gainers emerged against 13 losers. Year to date, the index is down by 14.24%

Ardova led gainers at today’s session, appreciating by 10% to close at N11.55. UPL added up 9.28% to end today’s trade at N1.06. Livestock went up by 7.69% to N0.70. Caverton rose to N2.47, notching up 7.39% in the process. Union Diagnostic completed the top 5, climbing by 6.90% to N0.31.

Prestige Assurance topped the losers’ table, declining by 9.09% to close at N0.50. Courtville shrank by 4.55% to end the day at N0.21. Nigerian Breweries tumbled to N30, losing 3.38%. Zenith dipped to N14.30, recording 2.72% loss. UCAP closed at N2.34, going down by 2.09%.

359.467 million shares worth N3.258 billion were traded today in 4,946 deals.

Access Bank was the most preferred stocks today with 64.600 million of its stocks worth N421.469 million traded in 397 deals. 62.944 million units of FBN Holdings shares priced at N289.460 million exchanged hands in 443 transactions. GTB had 36.135 million shares valued at N759.518 million traded in 604 deals. FCMB traded 35.157 million shares estimated at N61.767 million in 88 transactions. Zenith Bank traded 25.547 million shares valued at N371.998 million in 603 deals.