Stock Market Crossed ₦20 trillion Mark, Investors Gain ₦475.6 billion
The Nigerian Stock market crossed N20 trillion mark following sustained buying interest in some highly capitalised names.
The bulls remained aggressive in today’s trade as the equities market extended the positive run, advancing 2.4% to close at 38,803.74 points.
The performance was buoyed by buying interest in AIRTELAF (+10.0%), BUACEMENT (+9.1%) and NIGERIAN BREWERIES (+1.8%). a
Accordingly, the year to date return improved to 44.6% as market capitalisation advanced ₦475.6 billion to settle at ₦20.3 trillion.
Activity level spiked as volume and value traded rose 238.6% and 82.2% to 1.5bn units and ₦18.7 billion respectively.
The most traded stocks by volume were VERITASKAP (121.2m units), FLOURMILL (51.2m units) and BUACEMENT (50.7m units).
Meanwhile BUACEMENT (₦2.8bn), AIRTELAF (₦2.0bn) and FLOURMILL (₦1.4bn) led the value table.
Afrinvest said performance across the six sectors under its coverage was bullish as 4 sectors gained, 1 lost while the Oil & Gas indicator remained unchanged.
The AFR-ICT and Industrial Goods indices climbed 5.8% and 3.1% respectively on the back of gains in AIRTELAF (+10.0%), BUACEMENT (+9.1%) and WAPCO (+0.2%).
Similarly, the Consumer Goods and Banking indices rose 0.4% and 0.2% respectively, underpinned by gains in GUINNESS (+1.6%), VITAFOAM (+7.1%) and STERLING (+0.5%).
The Insurance index was the lone loser, shedding 0.8% as investors sold off MANSARD (-3.0%).
Read Also: Gilt-edged Market Records Stable Rate on T-Bills ahead of CBN Auction
Investor sentiment as measured by market breadth advanced to 3.4x from the 0.7x recorded previously as 24 stocks gained against 7 decliners.
ABCTRANS (+10.0%), AIRTELAF (+10.0%) and ETERNA (+10.0%) were the best performing tickers while FCMB (-4.0%), PZ (-3.6%) and LASACO (-3.1%) led the losers.
“Following the sustained buying interest in the local bourse, we expect the market to close the week bullish”, Afrinvest said.
Stock Market Crossed ₦20 trillion Mark, Investors Gain ₦475.6 billion
