Market Capitalisation Gains 35% As Stocks Close 2020 Bullish.

The Nigerian equities market has closed the year in a bullish mode as the market capitalisation gains 35 per cent in 2020, and surpassing the N21 trillion to close at N21,056 trillion, all-time high by the Nigerian Stock Exchange (NSE).

The NSE opened the year with N14.677 billion market capitalisation and by December 31 that it closed the year, it has added N6.379 trillion to end the year 2020 at N21.056 trillion, representing 35.7 per cent gain.

Equally, the All Share Index (ASI) which opened the year in January at 28,893 basic points closed December 2020 at 40,270.72 basic points.

However, Thursday 31st December the last day of the year, the ASI and the market capitalisation rose by 1.92 per cent to gain N396bn and 758 basis points from the previous day.

On Wednesday, the market capitalisation closed at N20,660 trillion, while the ASI stood at 39,110.17 basic points.

The gains of the market on Thursday was influenced by growth recorded by MTN Nigeria, BUA Cement,, Nigeria Flour Mills, BOC Gas and C and I Leasing.

Also, the market turnover increased, as investors traded in 710.705 million shares worth N10.081billion in 4,396, compared to the 372.934 million shares at N1.502 billion in 5,186 deals recorded on Wednesday.

The market breadth was marginally positive, with 32 gainers and 21 losers, as against the 40 gainers compared to 17 losers the previous day.

The losers’ chart was dominated in percentage barometers by Eternal Plc, losing 9.09 per cent to close at N5.1 per share. While International Breweries and Eco bank fell by 8.32 and 7. 69 per cent to close at N5. 95 and N6 per share respectively
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Also, Acess Bank declined by 3.43 per cent to close at N8. 45 per share, while Prescoe shed 1.18 per cent to close at N70. 95 per share.

On the flip side, BOC Gas led the gainers ‘ chart in percentage terms, gaining 10 per cent to close at N9. 57 per share.

In the same vein, BUA Cement, Nigeria Flour Mills and C and I Leading appreciated by 9.87, 9.95 and 9.94 per cent to close at N77. 35, N6. 72 and N5.2 per share respectively.

MTN Nigeria Communications completed the top five gainers’ chart, surging by 6 19 per cent to close at N169. 9 per share.

AIICO Insurance led the market activity chart in volume parameters when it traded in 205.997 million shares worth N34.226 million. With Acess Bank, Japaul Oil and FBN Holdings and Zenith Bank completing the top five activity table.