Investors earn N3bn as equities market goes bullish

Equities trading at the Nigerian Exchange Limited (NGX) geared towards positive year-end as a positive performance was recorded on Thursday.

The All-Share Index (ASI) notched a basis point gain to close at 41,813.27 basis points as investors’ interest in Zenith Bank and Access Bank boost market performance amid sell-offs of Dangote Sugar.

The bullish trade brought the month-to-date and year-to-date outings of the ASI to stand at -3.32 per cent and 3.83 per cent respectively.

The outing thus pegged the Equities Market Capitalisation at N21.825 trillion as investors gained three billion naira in the session.

Market breadth also closed in favour of the bulls with 21 counters in the gainers’ chart as against 12 counters in the losers’ chart.

On the chart, CHI Plc gained ten per cent to lead the best five performing stocks in the session, followed by Mutual Benefit, Regal Insurance, Unity Bank and Wapic.

From the rear of the chart, FTN Cocoa shed the most weight to lead the laggards’ chart as it is flanked by Royal Exchange, Veritas Kapital, EcoBank Transnational Incorporated and Ardova Plc

Most sectoral indices closed in opposite direction with the ASI save for NGX Consumer Goods, NGX Banking, and NGX Insurance that gained 0.20 per cent, 0.52 per cent, and 2.24 per cent respectively, while NGX Growth and NGX ASEM closed flat.

Market activity as measured by both volume and value gained weight in the session with daily traded volume standing at 360 million units, representing a 99.78 per cent increase from a volume of 180 million units traded in the previous session.

The value of traded stocks inched up by 24.53 per cent in the session to stand at N1.844 billion as against a value of N1.481 billion recorded in the previous trading session.

On Thursday, Jaiz Bank dominated the volume charts as the top traded stock by volume for the trading session. This is followed by Access Bank, Sterling Bank, UPDCREIT, and NGX Group to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, Access Bank took the lead of the top five performers as well. It is flanked by NGX Group, MTN Nigeria, Zenith Bank and FBN Holdings.

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Investors earn N3bn as equities market goes bullish