Investors Gain ₦333.8bn as Stock Market Cap Hits ₦9.6trn
Equities investors gained ₦333.8 billion on Monday as stock market capitalisation hits ₦9.6 trillion as investors buying sentiments improved further.
The positive run persisted as the equities segment of the Nigerian Stock Exchange (NSE) advanced 174 basis points (bps) to settle at 37,443.40 points.
The bullish run came following buying interest in DANGCEM (+10.0%), WAPCO (+2.3%) and OANDO (+9.9%).
Consequently, the year to date return rose to 39.5% as market capitalisation settled at ₦19.6 trillion.
However, activity level was mixed as volume traded increased 0.2% to 427.1m units while value traded decreased by 24.1% to ₦3.3 billion.
The most liquid stocks by volume were MANSARD (90.2m units), TRANSCORP (36.6m units) and AIICO (22.9m units).
Meanwhile DANGCEM (₦1.3bn), GUARANTY (₦372.3m) and ZENITH (₦298.1m) led the value chart.
Afrinvest said performance was mixed across sectors as 3 indicators closed in the green, 2 lost while the AFR-ICT index was flat.
The Banking index was the worst performer as it shed 1.1% due to profit-taking in ZENITH (-2.0%), GUARANTY (-0.7%) and ACCESS (-1.2%).
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Likewise, the Consumer Goods index dipped 14bps, mirroring sell-offs in INTBREW (-2.7%) and UNILEVER (-2.8%).
Conversely, the Industrial Goods and Insurance indices were up 5.5% and 5.1% respectively on the back of price appreciation in DANGCEM (+9.1%), WAPCO (+2.3%) and MANSARD (+9.8%).
Also, the Oil & Gas indicator climbed 0.7% higher on the back of buying interest in OANDO (+9.9%).
Investor sentiment as measured by market breadth decreased to 1.0x from the 4.4x recorded in the previous session as 22 stocks gained against the 23 that declined.
BOCGAS (+10.0%), DANGCEM (+10.0%) and OANDO (+9.9%) were the best performing stocks.
Meanwhile ETERNA (-9.9%), TRANSEXPR (-9.2%) and CHAMS (-8.7%) led the losers.
“We anticipate sustained bullish performance in the equities market in subsequent trading day”, Afrinvest said.
Investors Gain ₦333.8bn as Stock Market Cap Hits ₦9.6trn
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