Investors rally ₦136 billion as stock market sustains momentum

The Nigerian Stock Exchange sustains yesterday’s positive sentiment as investors rally ₦136 billion gain.

On an increase of 1.09%, the NSE market capitalisation jerked up to ₦12.613 trillion due to price appreciations on stocks.

The All-Share Index (ASI) closed higher by 109 basis points (bps) to close at 24,202.87 points.

The growth was positively impacted by price appreciation in Okomuoil, DangCem and 27 others.

The ASI increased by 261.12 absolute points, representing a growth of 1.09% to close at 24,202.87 points.

At 10% CAVERTON emerged as the top gainer while LASACO emerged as the top loser.

The uptrend was impacted by gains recorded in large/medium capitalized stocks, amongst which are; UNILEVER (+9.85%) and TRANSCORP (+5.80%).

Also, FIDELITYBK (+5.17%), FBNH (+4.08%) and ACCESS (+3.13%), and DANGCEM (+2.79%).

Then, GUARANTY (+2.42%), UBA (+2.40%), ZENITHBANK (+2.26%), UACN (+2.21%), and STANBIC (+1.09%).

The most active stocks by volume were ACCESS which transacted 80.6m units, GUARANTY 41.9m units, and ZENITH 39.7m units.

In terms of value, GUARANTY led the chart with trades worth ₦972 million, ZENITH ₦628.9 million and DANGCEM ₦579.6 million.

Afrinvest expects to see gains in the next trading session as investors continue to seek bargain hunting opportunities.

In a related development, the NASD OTC market on Tuesday remains unchanged.

The Unlisted Securities Index (USI) closed at 688.51, as against yesterday’s closing position.

Similarly, market capitalization closed at ₦505.76 billion.

The aggregate volume and value declined by 94.09% and 64.59% respectively, as investors traded a total of 16,200 shares, worth ₦4.44 million in 3 deal.

In the foreign exchange market, Naira at the official window on Thursday closed unchanged at 361.00/$1, against yesterday’s position.

The Investors and Exporters (I&E) FX window opened at ₦388.00, traded high at ₦390.69 and eventually closed at ₦386.33.

A total of $40.28 million was transacted through the I&E window today.

Investors rally ₦136 billion as stock market sustains momentum