Nigerian stocks maintain uptrend with N109bn gain

Nigerian stocks maintain uptrend with N109bn gain

Nigerian stocks maintain uptrend with N109bn gain


 

 

The local bourse ended Thursday session on bullish with bullish sentiments, as the All-Share index advanced by 0.53 per cent to 39,293.14 basis points.

This was as investors gained total sum of N109 billion on their equity investment at the market, thus pushing the aggregate market capitalization higher to close at N20.56 trillion.

Investors’ interests in STANBIC (+9.2%) and MTNN (+1.2%) drove the performance. Consequently, the Month-to-Date and Year-to-Date losses moderated to -1.3% and -2.4%, respectively.

The total volume traded declined by 36.6% to 229.42 million units, valued at NGN3.78 billion and exchanged in 4,016 deals. UBN was the most traded stock by volume at 79.57 million units, while MTNN was the most traded stock by value at NGN1.61 billion.

Analysing by sectors, the Insurance (+0.8%), Banking (+0.6%), and Industrial Goods (+0.1%) indices recorded gains, while the Consumer Goods (-0.2%) and Oil & Gas (-0.1%) indices declined.

As measured by market breadth, market sentiment was positive (2.1x), as 23 tickers gained, relative to 11 losers. WAPIC (+10.0%) and UPDCREIT (+9.8%) recorded the largest gains of the day, while SOVRENINS (-8.3%) and NPFMCRFBK (-7.2%) topped the losers’ list.