Stock Investors Gain N5.56 Trillion; MTN Returns as Most Valuable Firm

The market capitalisation of equities listed on the Nigerian stock exchange jumped by N5.56 trillion on Wednesday to N152.73 trillion, lifting the value of investors’ portfolios.

Data from the Nigerian Exchange Limited showed the benchmark index advanced 3.77 percent to close 237,205.59 basis points.

In the session, 50 stocks while 43 declined. Large-cap stocks, including MTN Nigeria Communications, Airtel Africa, BUA Cement, Aradel Holdings and Dangote Cement were among the risers.

MTN Nigeria overtook BUA Foods to regain its position as the country’s most valuable listed company after its market cap jumped 6.1 percent to N18.27 trillion, while the latter’s valuation stood at N17.41 trillion. The telecommunications company lost the top spot to BUA Foods on Tuesday.