The market capitalisation of the Nigerian Exchange Limited crossed the N40tn mark at the close of trading on Wednesday on the back of increased activity in banking stocks. Both the market cap and the ASI closed trading at N40.164tn and 73,397.71 respectively, a 1.28 per cent increase. This milestone came 10 months after the market cap hit N30tn on the back of the interest of domestic investors. On February 27, the first trading day after the presidential polls, the market crossed the N30tn market. “We have not seen movements yet in the industrial, consumer and telecoms sectors, which make up a high percentage of the market cap, we are expecting improved returns.

Source: Punch December 21, 2023 00:57 UTC