Great Start: Nigerian equities open new year with N458bn profit
The opening trading session of year at the Nigerian Stock Exchange ended in the green on Monday with strong bullish across large and small cap tickers, leading to a new wave of gain for investors
In a broadly bullish session that produced 32 gainers and just two decliners, investors gained N458 billion, amounting to 2.18 per cent appreciation in market value.
Consequently, the All-Share Index (ASI) added 876.67 points or 2.18 per cent to close at 41,147.39 basis points while market capitalization closed higher at N21.515 trillion.
Across different sectors, performance was significantly bullish as all sectors closed positive.
Industrial, Insurance and Banking indices advanced by 4.66 per cent, 4.39 per cent and 3.68 per cent as bullish sentiment dominate BUACEMENT(+9.89 per cent), LASACO(+8.57 per cent), MANSARD(+9.52 per cent); ZENITHBANK(+3.63 per cent) and GUANRANTY(+3.55 per cent).
Similarly, Consumer goods and oil &gas indices went up by 1.41 per cent and 0.09 per cent following gains recorded in HONYFLOUR(+10.00 per cent), INTBREW(+9.92 per cent) and JAPAULGOLD (+9.98 per cent).
Activity level was however negative as volume and value of transaction decline by 70.18 per cent and 86.04 per cent respectively.
Meanwhile, the bond market opened the year on muted note as yield on short and long dated instruments advanced. Notably, yield on the FGN-JAN-2022 advanced by 0.09 per cent to close at 2.7 per cent while Yield on FGN-JUL-2030 advanced to 7.27 per cent.
