On Wednesday, the market capitalization of The Nigerian Exchange Limited’s Equities market hit N25.07 trillion, the first time in its 60+ years history.
The N318.2bn addition to the capitalization is attributable to the buying interest in AIRTELAFRI and ETI shares.
Airtel Africa Plc (NGX: AIRTELAFRI), enjoyed the interest of Investors and Traders alike resulting in a 10.00% appreciation in price to close at N1,271.00. AIRTELAFRI share price has now risen by 33.09% YTD, an 325.23% since its listing 3 years ago.
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Ecobank Transnational Incorporated (NGX: ETI) also enjoyed maximum gains on Wednesday, rising by 9.55% to close at N10.90. The share price is up 30.54% YTD, but still down by 27.33% over the past three years.
The NGX All-Share Index rose by 1.29% to close at 46,529.99 points. Trading activity strengthened as volume and value of traded shares rose by 32.8% and 34.7% respectively to 329.0m units and N4.8bn.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Banking Index: 1.32% (424.98 Points)
- Industrial Goods Index: -1.89% (2,136.26 Points)
- Consumer Goods Index: -0.39% (561.42 Points)
- Oil & Gas Index: -0.59% (385.88 Points)
- Insurance Index: -0.63% (187.07 Points)
The Year-to-Date performance of the All-Share Index advanced to +9.47% following Wednesday’s gains.
Investor Sentiment
Investors sentiment as measured by market breadth (advance/decline ratio) was strong at 1.0x as 19 stocks gained while 19 stocks also lost.
Top Gainers:
- AIRTELAFRI gained 10.00% to close at N1,271.00
- ETI gained 9.55% to close at N10.90
- COURTVILLE gained 9.09% to close at N0.60
- ACADEMY gained 8.86% to close at N0.86
- LEARNAFRCA gained 8.53% to close at N1.40
Top Losers:
- CADBURY lost 9.47% to close at N8.60
- PRESTIGE lost 8.70% to close at N0.42
- CHAMPION lost 7.84% to close at N2.35
- LINKASSURE lost 7.14% to close at N0.52
- NEIMETH lost 5.26% to close at N1.80
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
