The Nigerian stock market gained ground for the eighth day in a row, with the benchmark All Share Index/ market capitalization improving further by 1.40% to settle at 24,143.37 index points and N12.582 trillion respectively.
Activity level was mixed, as the volume of shares exchanged increased by 23.60% to 426.64 million units of shares valued at N4.10 billion in 7,384 deals.
FBNH was the most active in today’s trading, boosting market turnover by 91.92 million, while GUARANTY was the most traded stock by value at N1.04 billion, topping the value list.
Market sentiment, as measured by market breadth, was positive with 35 gainers led by NB (+10.00%), as against 4 losers topped by CILEASING (-6.00%). Sector performance was bullish; all the indices appreciated, led by a massive +5.32% gain in the lenders Index, as Tier-one banking stocks continued to rally.
The Insurance (+3.66%) and Consumer Goods (+1.98%) indices also registered gains, as CHI Plc, NEM, NB and GUINNESS all recorded above 8% price appreciation. Lastly, ARDOVA (+9.84%) and WAPCO (+4.71%) drove the Oil & Gas, and Industrial goods indices by 1.27% and 0.64% respectively.
Activity level was mixed, as the volume of shares exchanged increased by 23.60% to 426.64 million units of shares valued at N4.10 billion in 7,384 deals.
FBNH was the most active in today’s trading, boosting market turnover by 91.92 million, while GUARANTY was the most traded stock by value at N1.04 billion, topping the value list.
Market sentiment, as measured by market breadth, was positive with 35 gainers led by NB (+10.00%), as against 4 losers topped by CILEASING (-6.00%). Sector performance was bullish; all the indices appreciated, led by a massive +5.32% gain in the lenders Index, as Tier-one banking stocks continued to rally.
The Insurance (+3.66%) and Consumer Goods (+1.98%) indices also registered gains, as CHI Plc, NEM, NB and GUINNESS all recorded above 8% price appreciation. Lastly, ARDOVA (+9.84%) and WAPCO (+4.71%) drove the Oil & Gas, and Industrial goods indices by 1.27% and 0.64% respectively.