The Nigerian stock market has greeted the new administration headed by Bola Tinubu on a positive note as market capitalisation hit N30.35trn on Tuesday.
The All-Share Index (ASI) rose by 2,771.86 points or 5.23 per cent to close at 55,738.35 points.
Market capitalisation closed N28,844,603,817,613.98 on Friday, May 26, 2023 while ASI closed 52973.88.
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Consequently, investors gained N1,505,268,945,219.64.
The performance represents a 1-week gain of 6.45 per cent, a 4-week gain of 6.38 per cent, and a year-to-date gain of 8.77 per cent.
At the close of trade, a total of 1,078,230,806 shares were traded in 9,916 deals with a market value of N15,799,462,207.88, were traded.
Compared to trading on Friday, Tuesday’s result shows 133 per cent improvement in volume, 106 per cent improvement in turnover, and 52 per cent improvement in deals.
Out of the 116 NGX listed equities that participated in trading, 64 gained while 14 lost.
Jaiz Bank led the gainers with 10 per cent share price appreciation closing at NGN 1.10 per share; Nigerian Breweries (+10%), Eterna (+10%) and Transcorp Hotels (+10%).
Ikeja Hotel’s price depreciation of 10 per cent at N2.16 per share; NCR Nigeria (-9.8 per cent), Tantalizers (-8 per cent) and Julius Berger Nigeria (-7.94 per cent).
Access Holdings recorded the highest volume of 200 million traded shares, followed by FBN Holdings (128m), Transcorp Nigeria (95.7m), and United Bank for Africa (82m).