Investors gain ₦162 billion as stock market sustains positive momentum
The Nigerian Stock Exchange equities segment sustains positive momentum Thursday as investors fortunes appreciated.
The trading session ended positive as the All-Share Index gained 147 basis points (bps) to 21,384.03 points following gains in NESTLE (+8.5%), ZENITH (+5.7%) and UBA (+9.7%).
Investors gained ₦162.0 billion as market capitalisation rose to ₦11.14 trillion. However, year to date return moderated to 20.3% negative.
Market data shows that activity level dipped, as volume and value traded declined 9.1% and 3.8% to 314.9 million units and ₦5.0 billion respectively.
The most active stocks by volume were FBNH which traded 56.0 million units, UBA 37.8 million units and WAPCO 35.0 million units.
By value, DANGCEM transactions value worth ₦2 billion, GUARANTY ₦596.0 million and NESTLE ₦454.1 million led the value chart.
Across sectors under Afrinvest coverage, performance was bullish as the Industrial Goods index was the lone loser, down 0.6% due to 2.2% price decline in BUACEMENT.
Meanwhile, 8.5% gains in NESTLE, 9.7% in DANGSUGA and 5.7% in ZENITH buoyed performance in the Consumer Goods (+5.0%) and Banking (+4.0%) indices.
Similarly, the Oil & Gas and Insurance indices rose 1.4% and 0.3% respectively following buying interest in OANDO (+9.1%) and AIICO (+5.0%).
Thus, the AFR-ICT index closed flat.
Investor sentiment as measured by market breadth weakened to 2.2x from the 3.6x recorded in yesterday’s session as 24 stocks gained relative to 11 losers.
The top gainers were DANGSUGA (+9.7%), UBA (+9.7%) and CADBURY (+9.5%) while OMATEK (-8.8%), CHAMS (-8.7%) and UNITYBNK (-8.7%) led the losers.
“We are not overly optimistic about an elongated bullish run as the economy still reels from the disruptions caused by COVID-19 pandemic”, Afrinvest said.
Investors gain ₦162 billion as stock market sustains positive momentum
