The market capitalisation of the listed equities on the Nigerian Stock Exchange (NSE) rose by 12.71 per cent or N1.582tn in the second quarter of 2014, erasing losses made in the first quarter.
The market capitalisation, which stood at N12.44tn on March 31, climbed to N14.028tn at the end of the second quarter on June 30, 2014.
The NSE All Share Index, which measures the general performance of the major stocks quoted on the Exchange, also had a positive second quarter, advancing by 3,734.47 basis points or 9.64 per cent to close at 42,482.48 basis points at the end of the quarter; up from the 38,748.01 basis points at which it stood at the end of the first three months of the year.
Its year-to-date return, which was negative at -6.25 per cent on March 31, stood at +2.79 at the end of the second quarter.
The performance of the stock market was broadly positive as in addition to the major indicators, the NSE 30 Index, the NSE Lotus Islamic Index and the five sectoral indices all appreciated in the second quarter. Only the NSE Alternative Securities Market Index declined, albeit marginally by 0.1 per cent in the quarter.
For instance, the NSE 30 Index, a major stock market index that tracks the performance of 30 most liquid stocks, rose by 11.41 per cent or 197.86 basis points to close the second quarter at 1,931.77 basis points, up from 1,733.91 basis points at the end of March.
This was in contrast to the nine per cent decline it witnessed in the second quarter.
