Stocks market reaches all time high at N15.32tr

The all share index of the Nigerian equities market yesterday increased to a record shattering high of 43,041.54 points, just as market capitalization soared by N473 billion to close at N15, 317 trillion representing a 2.93% daily change.

The market recorded 56 gainers as against 10 losers at the end of the trading hours.

The sector performance indices have not yet upturned previous stances as all indices closed northward with banking sector taking the lead with a 4.38% change, trailed by the industrial sector with 3.27% while NSE ASEM remained flat.

The investors who seem to be taking position ahead of an impressive performance by the financial institution saw Zenith Bank trade 129 million shares for N4.4 billion. Access traded 89 million shares for N1.07 billion and FBNH traded 93 million for N1.0 billion.

The consumer goods sector was represented by HONYFLOUR on the equities’ gainers chart as the flour milling company’s previous close of N2.91 jacked up to N3.2 by the trading day’s closing bell to position the stock at the top of the chart with a 9.97% change.

In contrast, UPL, MEYER, LEARN AFRICA, NEM and BERGER topped the equities losers chart (in order of appearance).

Market activities repeated previous trading session stance as Volume traded inched up by 6.75% to close at 1.16bn shares from previous close of 1.08bn shares and Value followed suit with a close of N17.37bn as against N13.29bn traded yesterday, representing an increase of 30.67%.

Though we expect a oneday or two-day loss on account of profit taking by speculators, we still believe the tempo in the market will continue to be progressive and this is not unconnected to investors anticipating good year-end earnings and an optimistic year for businesses and the economy at large. We expect the equities market to tread along.