Stock market bullish with N168bn gain | Dailytrust

Stock market bullish with N168bn gain

Trading hall of the Nigeria Stock exchange, Lagos.
Trading hall of the Nigeria Stock exchange, Lagos.

The domestic equities market started the last trading week of the year on a bullish note, buoyed by strong demand for BUA Cement  (+6.7 per cent ), Zenith (+2%) and Access (+4.1%).

Market capitalisation advanced ₦167.6 billion to settle at ₦20.4 trillion while year to date   return increased to 45.7%.

The All-Share Index went up 0.8% to close at 39,110.17 points.  Activity level was mixed as volume traded rose 85.4% to 722.6 million units while value traded dipped 45% to ₦4.4bn.

The most traded stocks by volume were AIICO (273.1m units), OANDO (81.4m units) and FBNH (41.1m units) while Dangote Cement (₦993.2m), Zenith (₦742m) and Access (₦353.3m) led the value table.

Performance across the six sectors under our coverage was mixed as 2 sectors gained, 3 lost while the AFR-ICT indicator closed flat.

Investor sentiment as measured by market breadth fell to 0.9x from the 2.6x recorded previously as 18 stocks gained against 20 losers.

JAIZ Bank (+10%), NEM (+9.%) and LASACO (+8.8%) were the best-performing tickers while NCR (-9.7%), FTN COCOA (-9%), and TRANSEXPR (-8.9%) led the losers.

Commenting, an analyst at Afrinvest, a capital market firm, said: “We anticipate the bullish run would remain following sustained buying interest in the local bourse.”

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