Equities Investors Gain ₦223.9bn as Benchmark Index Advanced
The domestic equities gained N223 billion as the benchmark index advanced by 125 basis points (bps) to 34,769.00 points on Wednesday at the local bourse.
The uptick in market index resulted from buying interest in DANGCEM (+2.6%), AIRTELAF (+1.9%) and DANGSUGAR (+5.9%).
Consequently, investors gain recorded pushed market capitalisation to ₦18.2 trillion while year-to-date return improved to 29.5%.
Activity level strengthened as volume and value traded on the local bourse increased by 19.0% and 47.4% to 434.9m units and ₦6.9 billion respectively.
The most traded stocks by volume were TRANSCORP (84.5 million units), ZENITH (59.2 million units) and ACCESS (29.9 million units).
Meanwhile, DANGCEM (₦2.2 billion), ZENITH (₦1.5 billion) and GUARANTY (₦768.5 million) led by value.
Market data showed that performance across sectors was bullish as five of the six indicators under Afrinvest analysts coverage closed in the green.
The Banking and Industrial Goods indices gained, up 1.6% apiece due to buying interest in ZENITH (+1.7%), GUARANTY (+1.2%), DANGCEM (+2.6%) and WAPCO (+3.4%).
Similarly, the Insurance and AFR-ICT indices rose by 1.4% and 1.0% respectively, following price appreciation in MANSARD (+9.8%) and AIRTELAF (+1.9%).
Price uptick in FLOURMILL (+9.8%) and GUINNESS (+2.9%) drove the Consumer Goods index higher by 0.7%.
Conversely, sell-offs in OANDO that plunged 6.6% dragged the Oil & Gas index lower by 0.6%.
So, investor sentiment as measured by market breadth rose to 3.4x from the 1.6x recorded previously as 37 stocks gained against the 11 that declined.
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MAYBAKER (+10.0%), UPDCREIT (+9.9%) and ETERNA (+9.9%) led the top gainers while TRANSEXPR (-9.4%), ABCTRANS (-8.6%) and CORNERST (-7.9%) led the decliners.
“In the next trading session, we expect the market to close positive as equities continue to present attractive opportunities”, Afrinvest stated.
Equities Investors Gain ₦223.9 billion as Benchmark Index Advanced
