For the first time in months, the Nigerian Stock Exchange (NSE) All-Share Index rose above 40,000 basis points on Tuesday, May 27, 2014.
In the first quarter of 2014, the All-Share Index fell below 38,000 basis points compared to the impressive 47% return with an All-Share Index at 41,329.19 points with which the NSE closed 2013 with.
The second quarter of 2014 is gaining stability in the market and on Tuesday, the NSE ASI advanced by 0.77 per cent or 305.77 basis points to 40,061.24 basis points.
Compared to that of the end of the first quarter of 2014, which stood at -6.25%, the year-to-date returns of the second quarter which now stands at -3.07% has shown a considerable improvement.
The market capitalization of the listed equities which appreciated by N101bn or 77% closed at N13.228tn on Tuesday. This is against the 0.19% depreciation, which saw it close at N13.127tn the previous day.
While the NSE Insurance Index and the NSE Consumer Goods Index declined, five of the sectoral indices recorded gains and they include the; NSE 30 Index, NSE Banking Index, NSE Oil and Gas Index, NSE Lotus Islamic Index and NSE Industrial Index. The NSE Alternative Securities Market Index Closed flat at 952.39 basis points.
The banking sector accounted for 33.36% of the total turnover placing them at the top of the activity chart in terms of volume traded.
Zenith International Bank Plc recorded the highest volume in the subsector as investors exchanged 97.465 million shares valued at N1.419 in 1,453 deals with the bank. Other equities that recorded high volume in the subsector included Access Bank Plc, Ecobank Transitional Incorporation Plc, Fidelity Bank Plc and United Bank For Africa Plc. In all, 33 equities made gains on Tuesday, while 30 others recorded losses.