Nigeria:Investors Gain N7.1bn At Equities Market

  • 16 September 2020 / News / 63 / ABI 1


Nigeria:Investors Gain N7.1bn At Equities Market

Trading on the floor of the Nigerian Stock Exchange (NSE) opened the week on a positive note as Investors gained ₦7.1 billion, with market capitalisation hitting  ₦13.4 trillion while year to date loss improved to 4.6percent .

The All-Share Index rose 5bps to settle at 25,605.59 points due to bargain hunting in Dangote Cement (+0.8percent ), WAPCO (+2.0percent ) and Guaranty Trust Bank (+0.4percent).

Activity level improved as volume and value traded increased 20.8 percent and 45.7percent respectively to 257.0m units and ₦3.3bn.

The most traded stocks by volume were Custodian (49.3m units), Wapco (29.6m units) and GTB (23.6m units) while GTB (₦739.2m), Stanbic (₦580.8m) and MTNN (₦486.0m) led by value.

Sector performance was mixed albeit negatively skewed as 3 of the 6 indices under our coverage declined.

The Consumer Goods and Oil & Gas indices led laggards, down 50bps and 8bps respectively following sell pressures in International Brewery (-8.6percent), NASCON (-0.5percent) and Oando (-0.8percent ).

Similarly, the Insurance index lost 7bps owing to price depreciation in Cornerstone (-4.6percent).

The Industrial Goods and Banking indices were the best-performing indicators, up 51bps and 15bps respectively due to bargain hunting in Dangote Cement (+0.8percent), WAPCO (+2.0percent ), GTB (+0.4percent ) and FBNH (+1.0percent). Finally, the AFR-ICT index closed flat.


source: dailytrust.com.ng