NSE Sustains Uptrend as Investors Gain ₦324.6 billion
Gaining streak persisted at the equities segment of the Nigerian Stock Exchange (NSE) as investors gain ₦324.6 billion.
Following the uptrend, the benchmark index advanced 1.9% to close at 33,268.36 points on the back of gains in MTNN (+2.4%), NIGERIAN BREWERIES (+9.5%) and BUACEMENT (+2.4%).
Consequently, market capitalisation rose to ₦17.4 trillion while year to date return improved to 23.9%.
Meanwhile, activity level surged as volume and value traded increased by 48.3% and 17.0% to 858.2m units and ₦9.1bn respectively.
The most traded stocks by volume were FBNH (145.1m units), TRANSCORP (126.3m units) and ZENITH (60.8m units).
Meanwhile ZENITH (₦1.5bn), GUARANTY (₦1.2bn) and DANGCEM (₦1.1bn) led by value.
Afrinvest said performance remained positive for all the 6 indices that the investment firm tracks.
The Banking and Consumer Goods indices advanced 4.1% and 2.6% respectively to lead the gainers.
This was buoyed by price appreciation in ZENITH (+4.5%), GUARANTY (+2.9%), and NIGERIAN BREWERIES (+9.5%).
Similarly, the AFR-ICT and Oil & Gas indicators advanced 1.4% and 1.3% respectively on account of buying interest in MTNN (+2.4%), OANDO (+9.8%) and ARDOVA (+3.8%).
Then, the Insurance and Industrial Goods indices strengthened 1.2% and 1.1% respectively as investors positioned in CORNERSTONE (+3.3%), WAPCO (+3.8%) and BUACEMENT (+2.4%).
Investor sentiment as measured by market breadth surged to 7.3x from the 3.5x recorded previously as 51 tickers gained against 7 losers.
NEIMETH (+10.0%), FIDSON (+10.0%), STERLING (+10.0%) and GUINNESS (+10.0%) were the top gainers while LEARNAFR (-4.8%), CILEASING (-4.7%) and STANBIC (-4.2%) led the decliners.
“While there is yet room for profit-taking, we expect the local bourse to close the week on a bullish note”, Afrinvest said.
Pay Attention to Dividend Paying Companies, Impressive Results – FSDH
NSE Sustains Uptrend as Investors Gain ₦324.6 billion
