NGX: Market cap gains N137bn as investors raise demand for MTN, Transcorp shares



Uba Group

The market capitalisation of the local bourse surged by about N137 billion on Tuesday as investors increased their demand for the shares of heavy weight Telco, MTNN and current major market mover, Transcorp Plc.

Other major market movers on Tuesday, included ZENITHBANK (+0.46%), WAPCO (+1.96%) and STANBIC (+3.93%).

As a result, the ASI year-to-date (YTD) return rose to 0.69 percent, while the market capitalisation closed at N28.10 trillion, while the benchmark index gained 0.49 percent to close at 51,606.49 points.

Analysis of Tuesday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 75.08 percent.

A total of 2.09 billion shares valued at N8.85 billion were exchanged in 6,404 deals. TRANSCORP (+9.80%) led the volume and value charts with 1.66 billion units traded in deals worth N4.09billion.

Market breadth closed positive at a 3.86-to-1 ratio with advancing issues outnumbering declining ones. JAPAULGOLD (+10.00%) topped 26 others on the leader’s log while WAPIC (-7.32%) topped six others on the laggard’s table