Equities investors earn N108bn as market retains the bulls

Equities market maintains previous day sentiments as the Nigerian Stock Exchange All Share Index was up 0.53 per cent to close at 39,293.14 basis points on Thursday.

This bullish moderated the ASI’s Year-to-Date (YtD) return to -2.43 per cent.

This outing pegged the market capitalization at N20.558 trillion as investors earned N108 billion on Thursday.

The bulls consolidated their grasp on market breadth as 22 counters in the gainers’ chart overshadowed 12 counters in the losers’ chart.

Wapic Insurance, Pharmadeko, Neimeth Pharmaceutical, Glaxo SmithKline and UAC Properties were the best-performing stocks for the day to lead the top gainer’s chart.

From the rear of the chart, Sovereign Insurance, NPF Microfinance Bank, Prestige Insurance Japan Gold and Dangote Sugar were the biggest losers of the day.

Most sectoral indices closed in tandem with the ASI, save for the Consumer Goods and Oil&Gas sectors that lost 0.24 per cent and 0.05 per cent respectively, as NSEASEM closed flat.

Market activity as measured by both volume and value of trades continued to decline for the second straight session in an indication of a possible weakening of the trend.

Daily traded volume stood at 229 million units, a 36.61% per cent decrease from a volume of362 million units recorded in the previous trading session.

Value of traded stocks also dipped by 33.69 per cent to stand at N3.781 billion as against a value of N5.702 billion recorded in the previous trading session.

Union Bank of Nigeria was the most traded stock in Thursday’s session as it’s flanked by Guaranty Trust Bank, Zenith Bank, MTN Nigeria and Oando to complete the list of the five most traded stocks in terms of volume.

With regards to the value of trades, MTN Nigeria, Guaranty Trust Bank, Union Bank of Nigeria, Stanbic and Zenith Bank made up the top five performers.

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Equities investors earn N108bn as market retains the bulls

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