Trading at Nigeria’s stock market closed in positive territory for the fourth consecutive trading session this week. The All Share Index appreciated by 0.87% to close at 24,354.25 points, and investors gained N109.90 billion, as market capitalization closed at N12.692 trillion, thus reducing YTD loss to 9.27%.
- The activity level mirrored the overall index, as total volume and value of shares exchanged increased by 1.16% and 28.23% respectively, to 431.58 million units and N5.26 billion.
- FBNH was the most active in today’s trading. It boosted market turnover by 115.56 million units of shares, while GUARANTY was the most traded stock by value at N1.22 billion.
- Market sentiment, as measured by market breadth, was positive with 21 gainers, led by CONOIL (+9.77%), as against 20 losers topped by REDSTAR (-5.00%).
- Sector performance was mainly positive with four of the five indices recording gains. NSE Consumer Goods (+2.37%) led gainers among the sectors, along with Industrial (+1.96%), Insurance (+0.93%) and Oil & Gas Index (+0.57%), while Banking Index (-1.98%) lagged. NB (+5.76%) and NESTLE (+2.56%) recorded gains to lift the Consumer Goods Index.
- Sustained buy interest in DANGCEM (+4.31%) drove the Industrial index, while CHIPLC (+9.09%) propped the Insurance Index. CONOIL and ARDOVA both gained +19.58% & to buoy the Energy index, while STERLNBK, FBNH and ZENITHBANK’s price depreciation impacted the Lenders’ Index.
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Top gainers
CONOIL up 9.77% to close at N19.1; ARDOVA up 9.68% to close at N15.3; DANGCEM up 4.31% to close at N150; NB up 5.76% to close at N34.9; and NESTLE up 2.56% to close at N1000.
Top losers
FBNH down 4.08% to close at N4.7; ZENITHBANK down 3.80% to close at N15.2; GUINNESS down 3.43% to close at N18.3; WAPCO down 2.24% to close at N10.9; GUARANTY down 1.96% to close at N22.5.
Outlook
Barring any late reversals in DANGCEM and NESTLE, Nigeria’s stock market is expected to continue on a positive note. It’s expected that local demand for stocks will remain firm.
