Positive sentiments persist as investors earn N33.3bn

The domestic equities market continued to trade with bullish sentiments, as sustained investors’ preference for banking shares lifted the benchmark index by 0.2 per cent on Thursday.

Specifically, late interests in United Bank for Africa and Access Bank led the All-Share Index (ASI) to close 0.16 higher at 40,829.15 basis points.

Consequently, Month-to-Date and Year-to-Date gains increased to +1.5 per cent and +1.4 per cent, respectively.

At the end of trading activities on Thursday, equities Investors at the Nigerian Exchange Limited (NGX) earned N33.32 billion as the market capitalization settled at N21.28 trillion.

As measured by market breadth, market sentiment was positive, as 23 tickers gained, relative to 20 losers. On the chart, University Press Limited and Presco recorded the most significant gains of the day having added 9.9 per cent and 5.9 per cent to their respective shares value, while BOC Gas and Caverton topped the losers’ list with 9.9 per cent and 9.7 per cent decline recorded against their respective shares.

Amid sustained investors’ interest in banking shares, especially in FBN Holdings shares, the NSE Banking index rose further by 0.70 per cent. Also, the NSE Industrial and the NSE Consumer Goods indexes rose marginally by 0.08 per cent and 0.06 per cent respectively. However, the NSE Insurance index fell by 1.24 per cent while the NSE Oil/Gas index remained flat.

Meanwhile, market activity came in strong given the N1.33 million worth of FBN Holdings shares that exchanged hands.

Thus, the volume and value of stock traded increased by 102.74 per cent and 203.95 per cent to 0.81 billion units and N10.58 billion respectively.

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