Nigeria's market cap crosses N8 trillion mark


Nigeria’s equities market consolidated yesterday’s bullish run by an encore performance today and simultaneously attained new heights and broke boundaries.

According to CSL report, the market rallied 124bps to hit 25,000pts; with market capitalization settling comfortably into the N8 trillion mark threshold.

Ratio of advancers to decliners stood at 3:1; with over 37 gainers, barely 13 losers, and 48 stocks remaining unchanged.

The ASI leapt 308.61pts to close at 25,148.47pts – a new high since 27th June, 2011. Also the market capitalization of listed equities increased by N98.24billion ($614.02million) to usher in a new year high of N8.01trillion from N7.91trillion were it closed yesterday. This feat was also last recorded on the 28th of June, 2011.

Activities stayed upbeat throughout the session, with liquidity driven majorly by the banking sub sector.

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GAINERS and LOSERs FOR 13TH SEPTEMBER 2012Volume activity chart had banking sector stocks holding sway, with Zenith topping the chart. They were followed closely by Access bank, Guaranty Trust bank and First bank.

Access bank resisted selling pressure to close higher at N9.55, bringing it to a market return of 98.96% YTD. On the flip side, Nigeria Bag Manufacturing Limited (BAGCO) was dethroned from the net bid chart, as it gave in to selling pressure. The bearish grip it was dealt saw it close lower to take fourth position on the losers chart.

NB and UACN held claims to the top seat on the gainers chart, as both stocks were well sought after and closed limit up.

More so, NB, Glaxosmith and Roads Nigeria Plc, all attained new highs, with YTD returns of 39.79%, 45.83% and 6.79% respectively.

The Full list today: PRICELIST FOR 13TH SEPTEMBER 2012

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