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.”

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
Media Trust Ltd

Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Whatsapp: +234 806 990 3410