Equities Investors Gain ₦239 billion as Market Rally Continues
Equities investors at the Nigerian Stock Exchange (NSE) gain ₦239 billion as market rally continues Wednesday.
The bullish run has raised year to date return to 9.7% as the NSE All-Share Index rise by a significant 1.58% to settle at 29,437.60 points.
As a result, NSE market capitalisation jerked up 1.58% to settle at ₦15.387 trillion.
The top three gainers for the day were Nestle Plc (+10.0% to ₦1, 292.50), Custodian and Allied Plc (+10.0% to ₦6.05), and NEM Insurance Plc (+9.85% to ₦2.23).
Meanwhile, Royal Exchange Plc (-8.00% to ₦0.23), Cutix Plc (-6.84% to ₦1.77), and Honey Flour Plc (-1.03% to ₦0.96) were today’s top losers.
Performance across Chapel Hill Denham’s coverage universe was an all-round positive for the second day.
Specifically, the NSE consumer goods and the NSE oil and gas indices, were the best per-forming gaining 5.66% and 2.14%, respectively.
Following behind were the NSE Insurance, NSE banking and NSE industrial goods indices, all of which gained by 1.52%, 1.18% and +1.12%, respectively.
The market’s activity was a mixed bag, with volume traded declining by 2.68% to 375mn units while value traded was up by 59.02% to N4.634 billion, respectively.
Today’s most traded stocks by volume were Zenith Bank Plc (46.66mn units), Fidelity Bank Plc (33.46mn units), and Ecobank Transnational Incorporated Plc (27.53mn units).
On the other hand, the top traded stocks by value are BUA Cement Plc (₦1.036 trillion), Zenith Bank Plc (₦1.004 trillion), and Guaranty Trust Bank Plc (₦0.394 billion).
Also, the Chapel Hill Denham’s Paramount Equity Fund (PEF) and the Women Investment Fund (WIF) both notched higher by 1.38% and 68bps, respectively.
Equities Investors Gain ₦239 billion as Market Rally Continues Written by Ogochi Ndubuisi