Nigerian Equities Market: benchmark index rises by 2.29%

By Salamatu Ejembi, Lagos.


Nigeria’s equities market has for the sixth consecutive trading session appreciated, bringing its benchmark index higher by 2.92%.

The All Share Index rose to 29,395.57 points hitting another landmark by 833.09 basis from its previous 28,562.48 basis points.

The Market Capitalization also greatly increased by N1,377billion to enter N15,164trillion from N13,787trillion.

The total volume of trades stood at 693.19 million units of shares, valued at N7.44 billion, and exchanged in 6,634 deals. Compared with 742 million units of shares worth N9,216billion in 7,622.00 deals.

WAPIC was the most traded stock by volume at 190.10million units, while ZENITH BANK PLC was the most traded stock by value at N1.76billion.

On Sectoral performances, Cordros securities said “investors piled into the heavyweight in Industrial Goods stocks, as the sectors outperformed growing by 7.89%”. 

On the flip side, profit-taking was witnessed across the Banking index which declined by 0.39%, Insurance index declined by 0.31%, Consumer Goods index declined by 0.21% and the Oil & Gas Index declined by 0.07%.

Market sentiment, as measured by market breadth, was positive as 22 stocks recorded gains relative to 21 losers.

CHAMPION BREW. PLC and SOVEREIGN TRUST INSURANCE PLC both topped the gainers’ list by 10.00%, while and UNITY BANK PLC led the losers’ list by 10.00% and UPDC REAL ESTATE INVESTMENT TRUST followed with 9.88%.

Amaka E. Nliam


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