Investors Wealth Spikes ₦116.7bn as Stock Market Goes Vertical
Investors’ fortune was boosted by ₦116.7 billion gain as some high market capitalisation stocks go vertical ahead of Nigeria’s 60 years anniversary.
For the third consecutive trading session this week, bullish sentiments continued to dominate trading on the Nigerian Stock Exchange (NSE).
Buying interest in DANGCEM (+2.8%), MTNN (+1.2%) and GUARANTY (+3.7%) drove an 83bps increase in the benchmark index to 26,831.76 points.
The consecutive gain in the week moderated year to date loss further to 0.04% as stock market capitalisation advanced to ₦14.025 trillion.
Today’s gainer’s list was topped by Total Plc (+10.00% to N96.80), Eterna Oil Plc (+9.60% to ₦2.74), and UAC of Nigeria Plc (+9.45% to N6.95).
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On the flip side, University Press Plc (-6.77% to ₦1.24), Nigerian Breweries Plc (-6.76% to ₦49.00), and PZ Cussons Plc (-5.88% to ₦4.00) were the top losers.
Performance across the sectors under Chapel Hill Denham’s coverage was largely positive.
The NSE banking, industrial goods, insurance and the NSE oil & gas indices closed higher by 1.93%, 1.40%, 31bps and 5bps respectively.
However, the NSE consumer goods index closed lower by 1.66%
Market activity was weak, as volume and value traded declined by 20.52% and 5.63% respectively to 323mn units and ₦4.039 billion.
The most traded stocks by volume were Sterling Bank (83.69mn units), Access Bank (46.10mn units), and Zenith Bank Plc (24.87mn units).
Meanwhile the top traded by value are Dangote Cement Plc (₦1.20tn), MTN Nigeria Plc (₦532.50bn), and Zenith Bank Plc (₦443.40mn).
The Chapel Hill Denham’s Women Investment Fund (WIF) and Paramount Equity Fund (PEF) closed higher by 73bps apiece.
Investors Wealth Spikes ₦116.7bn as Stock Market Goes Vertical
