Investors Record Gains as Stock Market Rises to N13.9 trillion
Investors’ recorded strong gain on Tuesday as sentiments on the Nigerian equity market remained positive in today’s trading session.
Market capitalisation improved by ₦54.4 billion to ₦13.908 trillion
The gain moderated market year to date loss to 0.86% with the NSE All Share Index further increasing by 0.39% to 26,611.96 points.
Activity level increased as volume and value traded climbed 22.7% and 12.4% to 413.1 million units and ₦4.5 billion respectively.
On the gainer’s list were Wema Bank Plc (+7.55% to ₦0.57), AIICO Plc (+6.33% to ₦0.84), and African Prudential Plc (+4.00% to ₦4.68).
On the flip side, the loser’s list was led by E-Tranzact Plc (-9.96% to ₦2.35), Cornerstone Insurance Plc (-8.45% to ₦0.65), and Lafarge Africa Plc (-6.25% to ₦15.00).
Performance across the sectors under our coverage remained positive.
The NSE industrial goods, banking, oil & gas, insurance and the NSE consumer goods indices closed higher by 83bps, 40bps, 26bps, 24bps and 7bps respectively.
Market activity was positive, as volume and value traded increased by 190.98% and 98.85% respectively to 406 million units and N4.280 billion.
Today’s most traded stocks by volume were Zenith Bank (90.88mn units), Sterling Bank (82.31mn units), and UBA Plc (56.68mn units).
Read Also: Stock market cap declines ₦2bn as investors’ sentiment fade
Meanwhile the top traded by value are Zenith Bank Plc (N1.58 trillion), Dangote Cement (N1.05 trillion), and Guaranty Trust Bank Plc (N448.20 million).
The Chapel Hill Denham’s Women Investment Fund (WIF) and Paramount Equity Fund (PEF) closed flat respectively.
Investor sentiment as measured by market breadth weakened to 1.5x from the 3.1x recorded previously as 16 stocks gained against the 11 that lost.
Afrinvest expects sustained buying interest in subsequent trading sessions as investors continue to take position in fundamentally sound stocks ahead of earnings releases.
Investors Record Gains as Stock Market Rises to N13.9 trillion
