Market cap crosses N60trn mark as Q3 earnings spur buy interest at Lagos Bourse

Nigeria’s stock market breath has been positive in all the four trading sessions since this week.

This happens as third-quarter (Q3) earnings season continues to drive buy-side interest at the Nigerian Exchange Limited (NGX).

As investors continued to pursue fundamentally sound names, the equities market capitalisation crossed N60trillion mark at the close of trading.
Stocks like Access Holdings, UPDC, Cornerstone Insurance, and Academy Press which led the league of advancer helped push the market higher on Thursday.

The market rose by 0.25 percent at the close of trading on Thursday. The Nigerian Exchange Limited All Share Index (ASI) and equities market capitalisation rose to 99,189.95 points and N60.103trillion respectively.

Read also: UPDC’s Q3 profit up 487% as share price dips by 77% YtD

The market’s year-to-date (YtD) return stood higher at 32.65 percent. This week, the market has risen by 1.14 percent, while this month it has rallied by 0.64 percent.

Access Holdings rose most, from N20.10 to N22.10, adding N2 or 9.95percent. Academy Press also moved from N2.86 to N3.14, adding 28kobo or 9.79percent.

UPDC increased from N1.46 to N1.59, adding 13kobo or 8.90percent, while Cornerstone Insurance increased from N2.50 to N2.69, adding 19kobo or 7.60percent.

In 9,211 deals, investors exchanged 400,912,759 shares worth N15.715billion. Investors traded mostly shares of UBA, Japaul Gold, Custodian Investment, Access Holdings and Zenith Bank