Investors Gain ₦300.5bn as Equities Market Reverses 2-day Profit-takings

Investors Gain ₦300.5bn as Equities Market Reverses 2-day Profit-takings

Investors gained ₦300.5 billion on Wednesday as equities market reverses 2-day profit-takings.

As a result, the NSE All-Share Index had its first positive close, gaining 168 basis points (bps) to settle at 28,658.31 point.

So, stock market capitalisation increased by 1.68% to ₦18.193 trillion.

Market chart shows that the trio of Linkage Assurance Plc (+10.00% to N0.55), Sterling Bank Plc (+10.00% to N2.09), and Lafarge Africa Plc (+7.14% to N24.10) were today’s top gaining stocks.

Meanwhile, the losers table was led by the insurance stocks, Cornerstone Insurance Plc (-8.62% to N0.53), Regal Insurance Plc (-8.33% to N0.22), and Mutual Benefits Plc (-7.14% to N0.26).

Performance across Chapel Hill Denham’s coverage universe was mixed, with 3 of 5 of its coverage indices closing in the green.

Specifically, the NSE consumer goods, NSE industrial goods and NSE banking indices closed positive, gaining 2.98%, 2.81% and 2.53% respectively.

Conversely, we saw losses across the NSE insurance and NSE oil and gas indices, both of which dipped by 36bps and 15bps, respectively.

The market’s activity was down, however recall that yesterday’s extraordinary volume growth was pushed by the UPDC block sale.

Volume and value traded declining by 92.94% and 30.97% to 661mn units and N8.298bn, respectively.

Today’s most traded stocks by volume were Transnational Corporation Bank Plc (160.581mn units), Guaranty Trust Bank Plc (70.682mn units), and Zenith Bank Plc (57.303mn units).

On the other hand, the top traded stocks by value are Guaranty Trust Bank Plc (2.620bn), Zenith Bank Plc (N1.539bn), and Access Bank Plc (N0.492bn).

Today, the Chapel Hill Denham’s Paramount Equity Fund (PEF) and the Women Investment Fund (WIF) both notched higher by 2.53% and 1.27%, respectively.

Read Also: Equities market: No justification for April, May Rally – WSTC

Investors Gain ₦300.5bn as Equities Market Reverses 2-day Profit-takings