Equities Capitalisation Hits ₦18.23trn as Investors Extend Bets
The Nigerian Stock Exchange (NSE) equities capitalisation hits ₦18.23 trillion as investors extend bets on stocks.
The extraordinarily low yield environments continue to benefit the Naira risky assets, as activities on stocks rise for a fourth straight session.
At the close of the market today, the NSE ASI notched 24bps higher, slightly better performance when compared to the previous session (+10bps).
Chapel Hill Denham note that investors’ interest in MTNN (+1.31%) and some tier banking stocks were the key drivers of today’s gain.
From a week ago, the benchmark index returned 2.19% as against a loss of 2.57% from the previous week.
Against the preceding, the year to date return rose to 29.97%, while the market capitalisation similarly advanced.
The trio of Associated Bus Co. Plc (+9.09% to N0.36), Nigerian Aviation Handling Co. Plc (+9.09% to N2.40), and Royal Exchange Plc (+8.33% to N0.26) were today’s top gaining stocks.
Meanwhile, Portland Paints & Products Nigeria Plc (-8.42% to N2.61), AXA Mansard Insurance Plc (-6.40% to N2.34), and Honeywell Flour Mill Plc (-5.31% to N1.07) were today’s top losers.
Performance across Chapel Hill Denham’s coverage universe was mixed, albeit with a bullish bias.
The firm said precisely 2 of 5 of its coverage indices closing in the green territory.
NSE consumer goods (+14bps) and NSE oil & gas (+6bps) indices closed positive, both of which were more than enough to mask losses across the NSE banking (-23bps) and NSE insurance indices (-193bps).
However, the NSE industrial goods index was flat.
The market’s activity remains weak, with volume traded moderating by 26.12% to 190mn, valued at N3.331bn.
Today’s most traded stocks by volume were Transnational Corp of Nigeria Plc (37.49mn units), Access Bank Plc (22.87mn units), and FBN Holdings Plc (19.79mn units).
On the other hand, the top traded stocks by value are MTN Nigeria Plc (N1.791bn), Zenith Bank Plc (N0.376bn), and Guaranty Trust Bank Plc (0.259bn).
Elsewhere, the Chapel Hill Denham’s Paramount Equity Fund (PEF) closed largely flat, while the Women Investment Fund (WIF) narrowly returned 2bps.
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Equities Capitalisation Hits ₦18.23trn as Investors Extend Bets
