Investors gained N36.7 billion at the close of trading on the domestic equities market in Monday’s trading session, with market capitalization rising to N12.4 trillion and year to date loss moderating to -10.78%. The All-Share Index (ASI) also rose by 0.29% to close at 23,941.75 points.
- The activity level on the bourse was upbeat, as traded volume and value rose 49.47% and 19.65% to 331 million units and N2.92billion respectively. The most active stocks by volume were Access Bank (83.5m units), and Zenith Bank (54.9 million units), while Zenith Bank (N842.8billion) led the value chart.
- Market sentiment, measured by market breadth, closed positive as 24 tickers gained, relative to 13 losers. Okomu (+9.99%) was the top gainer, while LASACO (-7.41%) led the losers’ chart.
- Performance across sectors closed mixed, with two out of the five indices under our coverage posting gains. Price appreciation in WAPCO and BUACEMENT spurred the Industrials by +0.94%, followed by the Lenders (+0.51%) on gain recorded in WEMA, ACCESS and FCMB.
- Conversely, the price decline in GUINNESS dragged the Consumer Index lower, while sell-offs in LASACO, CORNERSTONE, WAPIC & OANDO weighed down the Insurance and Oil & Gas Indices
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Top gainers
OKOMUOIL up 9.99% to close at N60.55; UNILEVER up 7.87% to close at N13.7; GLAXOSMITH up 7.09% to close at N6.8, WAPCO up 6.07% to close N11.35; and MTNN up 1.37% to close at N109.5.
Top losers
MAYBAKER down 3.85% to close at N3; FIDELITYBK down 3.33% to close at N1.74; GUINNESS down 2.86% to close at N17; ETI down 2.00% to close at N4.9, and UACN down 0.72% to close at N6.9
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Outlook
Nigeria’s stock market finished green today. The upside has been influenced by investors’ reaction to Brent crude’s solid outing, as well as a local reaction to some of the Q1 2020 results released over the weekend.
Nairametrics envisages a surge in volume, as institutional investors show significant activity in trading.
