It was a blast today as Nigerian Equities recorded a massive 5.01% gain by the close of trading today closing at 34,428 points. Todays market was short as the Exchange closed by 12 for Xmas eve preparations. The market started out with a bang as most stocks recorded 10% gains before fizzling out. However, this was not enough to stop the All share index from recording its biggest one day gain since 2009 (according to Proshare).
The 5% gain helped total equities market capitalization to surge past N10tr mark to close at N11,402,042,992,052.68 gaining a massive N578billion. In fact equities have risen by N1Trillion this week alone and have gained N1.7trillion since this rally began just last Thursday. The last time the index closed above N11trillion was on December 2nd and the last time it closed above N11.4trillion was November 28th. The All Share Index has now recovered all it lost this December swinging to a Month to Date gain of 1.6%. Volume was also high in todays trading topping yesterday’s 440million with 581.9million in volume traded.
The Equities market had large caps like Dangote Cement to thank for this huge surge. Dangote Cement, Guinness, Seplat all gained above 10% whilst UBA and Skye Bank also gained 9%, A total of 33 stocks gained whilst 15 stocks recorded losses. Included in the stocks that lost where Zenith Bank and Diamond Bank which both traded higher during intra day trade before fizzling out at close.
See top gainers and losers today
