Equities Market Resumes Uptrend as Investors Gain ₦132.8bn
The Nigerian equities market turned bullish as investors gained ₦132.8 billion at the close of the trading session on Tuesday.
Improved sentiment lifted the NSE All-Share Index rose by 83 basis points to 30,733.47 points.
The uptrend reflected on the year-to-date return of the benchmark index which climbed to 14.50%.
Buying interest in some high cap stocks supported the increase recorded as market capitalisation advanced to ₦16.064 trillion.
Today’s top gainers were Coronation Insurance Plc with a share price increase of +10.00% to ₦0.44, ABC Transport Plc up +9.68% to ₦0.34, and CAP Plc did +9.58% to ₦22.30.
On the flip side, Nigeria Police Microfinance Plc share price plunged by 8.82% to ₦1.55, Custodian Plc lost 7.44% to ₦5.60, and AIICO Plc dropped 4.60% to ₦0.83 as of today’s top losers.
Chapel Hill Denham said performance across coverage sectors was largely positive as 3 of 5 indices closed higher.
The NSE industrial goods, the NSE oil & gas and the NSE insurance indices were today’s top performers, closing higher by 2.85%, 62bps and 33bps respectively.
However, the NSE Banking and the NSE consumer goods indices lost 47bps and 13bps respectively.
Then, the activity level was mixed as the volume traded fell by 10.77% to 336mn units while the value traded rose by 2.32% to ₦3.890 billion.
The most traded stocks by volume were Zenith Bank Plc (41.10mn units), FBN Holdings Plc (40.62mn units), and UBA Plc (33.12mn units).
Zenith Bank Plc (₦895.65bn), Guaranty Trust Bank Plc (₦604.89bn) and Dangote Sugar Plc (₦336.54bn) were today’s top traded by value.
Chapel Hill Denham’s Paramount Equity Fund (PEF) and the Women Investment Fund (WIF) both gained 7bps and 6bps respectively.
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Equities Market Resumes Uptrend as Investors Gain ₦132.8bn written by Ogochi Ndubuisi #MarketForces Africa
