Equites market closed the month of October on a positive note as bullish sentiment continues to pervade the equities market with the All-Share index advancing by 1.65 percent to close at a new high of 69,236.19 basis points.
On Tuesday, the rally at the Nigerian Exchange Limited (NGX) was buoyed by impressive earnings scorecards by corporates as well as announcement of corporate actions.
Also, index heavyweights, Airtel Africa, BUA Cement alongside Stanbic IBTC drove the market’s strong performance having appreciated in share value by 10.0 percent, 1.13 percent and 1.35 percenr, respectively.
Consequently, the year-to-date (YTD) return rose to 35.09%.
In the last trading session of the month, the domestic equities continued its winning streak as the benchmark index gained 1.65 percent to settle at 69,236.19 basis points, the highest point since 19 September.
Index heavyweights, Airtel Africa, BUA Cement alongside Stanbic IBTC drove the market’s strong performance having appreciated in share value by 10.0 percent, 1.13 percent and 1.35 percenr, respectively.
Consequently, the Month-to-Date and Year-to-Date gains increased to +4.3 percent and +35.1 percent, respectively.
Equities investors, therefore gained N617.79 billion cumulatively on Tuesday as the market capitalization closed at N38.04 trillion.
As measured by market breadth, market sentiment was positive, as 40 tickers gained relative to 25 losers. On the performance board, Airtel Africa and Cadbury topped the gainers’ list after their respective share prices appreciated by 10.0 percent and 9.9 percent, while Beta Glass and University Press Limited recorded the highest losses of the day having dipped in 9.9 percent 9.8 percent, respectively.
Across sub sector gauges, performance remained bullish as the Banking, Insurance and Industrial Goods sectors closed in the green zone increasing by 0.94 percent, 1.87 percent, and 0.09 percent respectively. While the Consumer Goods sector declined by 0.02 percent, the Oil/Gas sector remained unchanged from the previous day.
Meanwhile, trading activity demonstrated further improvement with an uptick of 4.85 percent in total deals and 12.29 percent increase in volume, resulting to 8,027 trades and 483.27 million units; albeit, the total value plummeted by 26.80 percent to N6.04 billion. Japaul Gold emerged as the most actively traded stock, with 155.59 million shares worth N181.86 million changing hands in 411 deals.
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