Equities: ASI crosses 35,000 benchmark, Market Cap hits N12trn

The growth on the Nigerian equities market has shown no lull as lead indices accelerated further on Tuesday, propelling the All-Share Index above a 35,000 benchmark and the market capitalization higher than a N12trillion mark.

The ASI posted a growth of 1.2 per cent or 412.95 points to close at 35,065.47 points, against 34,652.52 achieved on Monday, extending rally to the 14th consecutive session.

The market capitalization was also led to a robust gain of N142 billion or 1.2 per cent to close the day at N12.085 trillion from its opening figure of N11.943tn.

UBA led the day’s gainers recording the highest growth of 10.16 per cent to close at N10.41 per share, May&Baker rose 10 per cent to close at 3.19 per share and Forte Oil grew by 9.39 per cent to close at N62.90 per share.

The day ended with Unity Bank topping the losers’ chart. The stock dropped 8.96 per cent to close at 61 kobo per share while Morison Industries and First Aluminum followed, with a loss of 8.92 per cent and 5 percent to close at N1.43 and 57 kobo respectively.

The volume of shares traded in 2,578 deals fell to 288.6 million from 293.8 million exchanged in 3,712 deals on Monday. Total value traded also dropped to N2.5 billion in contrast to N3.9 traded in previous session.

UBA topped trading activity with the sale of 118.5 million shares worth N1.2b. Transcorp followed with the sale of 38.3 million shares worth N63.2m, while Fidelity Bank traded 25.6 million shares for N33million