Market Capitalisation Hits N10.2Trn

The performance of traded equities at the Nigerian Stock Exchange in January exceeded the investors expectation, as marked capitalisation rose to N10.2 trillion as against N8.97 trillion traded in December, 2012.

Market capitalisation gained N1.22 trillion to end positively compared to December transactions.

Also All-Share Index (ASI) went up from 28,078.81 points traded in December to close higher at 31,853.19 points, gaining 3,774.38 points in the volume and value of traded shares, investors traded a total of 10.94 billion shares, valued at N81.8 billion in 128,489 deals, compared to 5.16 billion shares worth N46.55 billion which exchanged hands in 72,421 deals in December.

The performance of stock according to market statistics was due to the price gains of some equities at the exchange.

According to the records, Eterna Oil appreciated by 144.72 per cent, closing at N4.87 per share.

Forte Oil and CCNN followed, appreciating by 118.43 and 92.83 per cent, respectively, closing at N16.73 and N10.22 per share, respectively.

On the other hand John Holt recorded the highest lost of 50 per cent, closing at N1.7 per share.

An investor, Mrs Chinemerem James said that January performance of equities will restored investors hope if it continues.

She noted that Nigerian stock market can bounce back if the leaders of the country and authorities in security market will set politics aside and do what is expected of them.