Stock Market Opens Strong as Investors Gain ₦82bn
The Nigerian stock market opens the week strong as investors gain N82 billion on Monday.
Notably, the NSE All Share Index breached the 35,000pts resistance level in today’s session, expanding by 45bps to 35,042.14. , as the rally in the equities market was sustained.
As a result of bullish trend, market capitalization increased to N18.310 trillion while the year-to-date return of the benchmark index rose further to 30.55%.
The trio of AIICO Plc (+10.00% to N1.10), Airtel Africa Plc (+10.00% to N588.50), and Tripple Gee Plc (+9.09% to N0.60) were today’s top gaining stocks.
On the flipside, Northern Nigeria Flour Mills (-10.00% to N6.93), Cutix Plc (-10.00% to N1.53), and Fidson Health Plc (-9.87% to N4.93) were today’s top losers.
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Performance across Chapel Hill Denham’s coverage universe was mixed, albeit with a bearish bias.
“Precisely 2 of 5 of our coverage indices closing in the green territory”, analysts at Chapel Hill Denham hinted in a note.
The NSE insurance and the NSE oil & gas indices rose by 1.63% and 1bp respectively at the close of trading.
On the other hand, the NSE banking (-2.49%), the NSE industrial goods (-68bps) and, the NSE consumer goods (-44bps) indices were todays’ laggards.
Thus, the market’s activity opened a strong note.
Total volume and value traded rose by 118.38% and 47.05% respectively to 415.53mn and N4.898bn.
Today’s most traded stocks by volume were Multiverse Plc (84.01mn units), Zenith Bank Plc (47.02mn units), and Transnational Corporation Plc (34.07mn units).
Meanwhile Zenith Bank Plc (N1,134bn), Airtel Africa Plc (N596.07bn), and MTN Nigeria Plc (N497.64bn) led by value.
Elsewhere, the Chapel Hill Denham’s Paramount Equity Fund (PEF) and the Women In-vestment Fund (WIF) closed largely lower by 57bps and 79bps respectively.
