The rally in the equities market of the Nigeria Stock Exchange (NSE) continued as investors gained ₦708.1 billion as market capitalization hit ₦15.1 trillion.
Similarly, the All Share Index (ASI) rose 4.9 per cent to 28,909.37 points – the highest daily increase on record since March 2015, while it is the highest since January 2020.
The Year to date return jumped to 7.7%.
A sustained buy interest in bellwethers – Dangote Cement (+9.9%), MTNN (+5.7%) and Zenith Bank (+9.5%) – drove yesterday’s impressive performance.
Activity level strengthened as volume and value traded improved by 24.1% and 27.9% to 749.5 million units and ₦9.5bn respectively.
The most traded stocks by volume were Zenith (135.7m units), UBA (112.9m units) and FBNH (89.9m units) while Zenith (₦2.8bn), Guaranty Trust Bank (₦1.2bn) and UBA (₦768.2m) led by value.
Performance across sectors was laudable as all indices sustained previous day’s gains.
Analysts at Afrinvest, a stock broking firm said: “We expect the rally in the equities market to continue in the next trading session, with strong buy interest mainly in low-priced bellwethers and high dividend yielding stocks.”
Lafarge Africa Plc held an emergency meeting of Board of Director yesterday to discuss its investment in Continental Blue Investment Ltd, while Wema Bank Plc announced the appointment of Mrs Ibiye Asime Ekong as an independent Non-Executive Director.
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