Nigerian Stock Exchange Watch: Market Cap Surpasses N 7 trillion

Equity investors ought to be gleeful considering the market recorded its seventh straight day of gains today, even as the market capitalization the N 7 trillion mark.

The All Share Index closed upwards by 0.34% settling at 21970.21.

The markets gains were buoyed by positive performance in virtually all sectors, Banking (+0.2%), Insurance (+2%), Oil & Gas (+1.3%), and Food Beverages and Tobacco (+0.5%).

UBA (+4.85%) and FCMB (+4.98%) continued their positive trajectory consolidating on gains from previous sessions.

Also closing in the green, Sterling (+2.68%), Skye (+1.54%) and top tiers, First Bank (+0.94%) and Access (+1.72%).

On the flip side GT Bank (-1.28%) and Zenith (-1.07%) succumbed to selling pressure.

The building materials sub-sector saw Ashaka (+4.98%) consolidate on yesterday’s gains. Lafarge (+2.28%) was also up. On the flip side CCNN (-5%) closed in red territory.

In the FBT sub-sector, all Dangote subsidiaries closed in the green, Dangote Flour (+1.11%), Dangote Flour (+1.14%) and NASCON (+4.9%).

Cadbury (+4.98%), Flour Mills (+1.72%) and Honeywell (+2.87%) also closed in the green.

The insurance sub-sector was led by GTAssur (+4.61%), Custodian (+4.41%), and Continental RE (+1.15%). Law Union an Rock she 192 points.

307 million shares valued at just over N 3 billion exchanged hands on the bourse today.

 

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