NSE: BUA Cement listing catapults market capitalisation beyond N15 trillion mark

The Market Capitalisation of the Nigerian stock market crossed the N15 trillion mark today as the listing of the 33.8 billion shares of BUA Cement Plc – an amalgamation of Obu Cement Limited and Cement Company of Northern Nigeria Plc (CCNN) – lifted the bourse by N1.18 trillion. As BUA listed this morning, it joined the elite club of the five most capitalised stocks on the Nigerian Stock Exchange (NSE) alongside Dangote Cement, Airtel Aftica, MTNN and Nestle, each having a total market value above one trillion Naira.

Even without the listing, the value of the already existing equities rose by N197 billion as investors’ demand for blue-chip stocks, a factor that has defined the uptrend in the market for days, remained unflagging. Development security dealers have pinned down the bullish trend to asset re-allocation, which made investors in fixed income market to recoup their investment due to current low yield and invest the proceeds in the equity market the yield is presently high.

A positive market breadth was posted again today as 22 gainers were recorded against 21 losers. The All Share Index added 2.92% to close at 29,395.57 basis points. Year to date, the index is up by 9.51%. Bloomberg has hailed the NSE as the best performing market in sub Saharan Africa so far this year.

Read also: NSE: Banking stocks dominate trade as index rises further

TOP 5 GAINERS

Bellwether stocks dominated the gainers’ chart today. Dangote Cement topped the gainers’ table in value terms for the fourth consecutive trading day this week, leaping by 6.71% to close at N175. MTNN rose by 5.94% to N116. Presco ended today’s trade at N57.05, growing by 9.71% in the process. GTB climbed up by 4.16% to N32.55. WAPCO appreciated by 3.70% to close trade at N15.4.

TOP 5 LOSERS

Union Dicon Salt led the gang of losers, losing 9.88% to close at N10.95. Access Bank dipped by 5.60% to close at N10.95. Unilever closed trade at N19, going down by 3.06%. UBA plunged by 5.65% to close at N8.35. Flour Mills shed 1.71% to end Thursday’s trade at N23.

TOP 5 TRADES

693.189 million shares were traded today for N7.444 billion in 6,634 deals. WAPIC Insurance shares were the most preferred stock today with 190.104 million shares traded for N68.483 million in 68 deals. Transcorp traded 82.817 million shares valued at N89.809 million in 138 deals. 80.783 million shares of Zenith Bank estimated at N1.766 billion exchanged hands in 836 transactions. FBN Holdings recorded a transaction volume of 41.619 million shares priced at N315.602 billion in 562 deals. UBA completed the top 5 on the activity chart with 39.725 million shares estimated at 336.99 million in 497 transactions.

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