Equities rise with N641bn investors’ gain | Dailytrust

Equities rise with N641bn investors’ gain

The benchmark index took off on a bullish note, rising 4 per cent to settle at 32,243.05 points following gains in Dangote Cement (+6.0%), MTNN (+4.2%) and BUA Cement (+4.4%).

Consequently, investors appreciated ₦641.1 billion to settle at ₦16.8 trillion while Year to date return improved to 20.1%.

Activity level surged as volume and value traded advanced 27.7% and 60.2% to 636.0m units and ₦8.2bn respectively.

The most traded stocks by volume were Zenith (70.2m units), FBNH (67.7m units) and Access (58.0m units) while Zenith (₦1.6bn), MTNN (₦1.2bn) and Guaranty (₦757.2m) led by value chart.

Performance was bullish across sectors as all six indices under review gained.

The Banking and Industrial Goods indicators recorded the strongest appreciation, up 6.6% and 5.5% respectively due to gains in Guaranty (+5.1%), Zenith (+6.7%), Dangote Cement (+6.0%) and BUA cement (+4.4%).

Similarly, the AFR-ICT and Consumer Goods indices rose 2.3% and 1.8% respectively as a result of buying interest in MTNN (+4.2%), DANGSUGAR (+9.7%) and FLOURMILL (+4.6%).

Following the significant appreciation recorded in today’s trade, the Nigerian Stock Exchange (NSE) expects profit taking in the next session but that market performance would be supported by earnings releases.

Conoil Plc reported an unaudited nine months result in 2020 with revenue falling 21.8% to ₦88.1bn from ₦112.7bn while its profit after tax dropped 34.6% to ₦1.1bn from ₦1.7bn in nine months of 2019.