Investors Gain as Equities Market Return Rises to 30.91%

Investors Gain as Equities Market Return Rises to 30.91%

Equities investors in the Nigerian Stock Exchange (NSE) gain as market year to date return rises to 30.91% on Friday.

As result of improved buying sentiment witnessed, the NSE All-Share Index rose by 48 basis points (bps) to 35,137.99 points

Analysts however observed that the positive close was driven by renewed buy sentiment in some bellwether securities – Mobil (11) Plc, Zenith Bank Plc and Airtel Africa.

At the close of trading market’s YTD return rose to 30.91%, while market capitalisation came in at N18.365 trillion.

Tripple Gee Plc (+10.00% to N0.66), Mobil (11) Plc (+9.20% to N228.00), and Airtel Africa Plc (+8.75% to N640.00), were today’s top gaining stocks.

On the other hand, Royal Exchange Plc (-8.33% to N0.22), Union Diagnostics Plc (-7.41% to N0.25), and Consolidated Hallmark Plc (-7.14% to N0.26) were today’s top losers.

Week-on-week, the NSE All Share Index (NSE-ASI) gained 72bps.

Chapel Hill Denham however stated that performance across its coverage universe was mixed, with 2 of 5 coverage indices closing higher.

The NSE oil & gas and the NSE insurance indices gained 1.88% and 1.64% respectively.

However, the NSE industrial goods and the NSE consumer goods indices lost 1.53% and 0.29% respectively, while the NSE banking index closed flat.

Market’s activity was broadly mixed, with volume traded rising by 1.20% to 293mn units, while value traded declined by 41.68% to N4.285bn.

Today’s most traded stocks by volume were FBN Holdings Plc (40.53mn units), UBA Plc (35.25mn units), and Access Bank Plc (32.60mn units).

On the other hand, the top traded stocks by value were Dangote Cement Plc (N909bn), Stanbic IBTC Bank Plc (610bn), and Nestle Nigeria Plc (N553bn).

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Chapel Hill Denham’s Paramount Equity Fund (PEF) and the Women Investment Fund (WIF) both declined by 69bps and 36bps, respectively.

Investors Gain as Equities Market Return Rises to 30.91%