Nigerian stock market has sustained its positive stance, as it closed the market with 1.03% appreciation, increasing market capitalization to N12.743 trillion, while the All-Share Index (ASI) settled at 24,452.23 index points. Accordingly, Year-to-Date losses moderated to 8.8%.
- Today’s uptrend was impacted by gains recorded in blue-chip stocks like Tier one banking stocks and industrial giant, DANGCEMENT.
- The activity level mirrored the overall index, as total volumes and values of shares exchanged increased by 28.57% and 37.99% respectively, to 436.83 million units and N5.41 billion.
- ZENITH BANK (+4.10%) finished as the most active in today’s trading to boost market turnover by 75million units of shares valued at N1.217 billion.
- Market sentiment, as measured by market breadth, closed positive, recording 37 gainers against 5 losers. REDSTAREX recorded the highest price gain of 10.00% to close at N3.41 per share
- All the sectors under our coverage recorded gains. Notably, the Banking sector (+2.81%) topped the list as STANBIC, ZENITHBANK, UBA, GUARANTY, and FCMB all gained.
- The Insurance (+1.67%) and Industrial sectors (+1.33%) followed suit, on the back of gains recorded in AIICO (+4.21%), WAPIC (+6.90), BUACEEMENT (+1.89%) and DANGCEMENT (+1.69%).
- In the Oil & Gas (+0.12%), and Consumer Goods sectors (+0.10%), OANDO (+1.09%) and UACN (+4.32%) drove the gains, respectively.