Nigerian Stock Market Hits ₦20.4 trillion as Investors Gain ₦167.6 billion
The Nigerian stock market capitalisation hits ₦20.4 trillion on Tuesday as investors gained ₦167.6 billion to open the holiday-packed week.
Market record showed that equities segment of the Nigerian Stock Exchange started the last trading week of the year on a bullish note, up 0.8% to close at 39,110.17 points.
The performance was buoyed by strong demand for BUACEMENT (+6.7%), ZENITH (+2.0%) and ACCESS (+4.1%).
Similarly, the year to date return increased to 45.7% as market capitalisation advanced ₦167.6bn to settle at ₦20.4 trillion.
Activity level was however mixed as volume traded rose 85.4% to 722.6m units while value traded dipped 45.0% to ₦4.4 billion.
The most traded stocks by volume were AIICO (273.1m units), OANDO (81.4m units) and FBNH (41.1m units).
Meanwhile DANGCEM (₦993.2m), ZENITH (₦742.0m) and ACCESS (₦353.3m) led the value table.
Afrinvest said in a note that performance across the six sectors under its coverage was mixed as 2 sectors gained, 3 lost while the AFR-ICT indicator closed flat.
The Industrial Goods and Banking indices climbed 2.4% and 1.1% respectively on the back of gains in BUACEMENT (+6.7%), CUTIX (+2.3%) and ZENITH (+2.0%).
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Conversely, the Insurance index fell 0.8%, underpinned by losses in MANSARD (-4.8%) and AIICO (-1.6%).
The Oil & Gas and Consumer Goods indices declined 0.1% apiece following sell-offs in OANDO (-0.6%), FLOURMILL (-1.6%) and GUINNESS (-1.0%).
Investor sentiment as measured by market breadth (advance/decline ratio) fell to 0.9x from the 2.6x recorded previously as 18 stocks gained against 20 losers.
JAIZBANK (+10.0%), NEM (+9.6%) and LASACO (+8.8%) were the best performing tickers while NCR (-9.7%), FTNCOCOA (-9.0%) and TRANSEXPR (-8.9%) led the losers.
“We anticipate the bullish run would remain following sustained buying interest in the local bourse”, Afrinvest said.
Nigerian Stock Market Hits ₦20.4 trillion as Investors Gain ₦167.6 billion
