Market Capitalization Swells by N53.4 billion on Reversed Downward Trend

Market Capitalization of the Nigerian Stock Market improved by N53.4 billion to close at N8.6 trillion to close the market on Thursday, April 28.

Statistics from the NSE show that the uptrend was on the back of gains in bellwether equities across sectors, including Dangote Cement, Nigerian Breweries, GT Bank and Total.

Market activity improved however as volume and value traded grew 18.7 per cent and 48 per cent respectively to settle at 338.3 million shares valued at N2 billion.

The Banking and Consumer Goods indices appreciated 1.6 per cent and 0.7 per cent respectively on the back of bargain hunting activities in NB and price appreciation in Floor Mills, GT Bank, Access Bank and Wema Bank.

The insurance index gained a marginal 7bps. On the flip side, the industrial goods index was dragged into the red zone by a 5 per cent decline in WAPCO, which offset a 1.5 per cent gain of Dangote Cement.