The Nigerian capital market investors started trading bullishly on Monday with the Nigerian Stock Exchange’s All Share Index (ASI) rising by 0.16 percent or 16 bases points over the last trading’s ASI to close at 27,035.78 points.
Largely, the positive trend in the index was buoyed by gains recorded by some blue chip stocks, including Nestle Nigeria Plc’s price gaining +4.0 percent followed by Dangote Sugar whick rose by +8.2 percent and Guaranty Trust Bank (GTBank) which gained +0.7 percent.
The bullish run in the bourse also impacted positively on the Year-to-Date (YTD) which dipped to -14.0 percent while market capitalisation appreciated by N21.4 billion to close at N13.0 trillion at the end of the day’s trading
According to official report of the trading, activity level also improved as volume and value traded rose by 11.3 percent and 13.1 percent to 230.7 million units and N3.2 billion respectively.
The report listed the most active stocks by volume as Zenith Bank (42.3 million units) GTBank (26.0 million units), and First Bank Nigeria Holding (19.7 million units) while the value of the leading stocks were at Zenith Bank (N798.2 million ), GTBank (N775.7 million ) and Nestle (N623.1 million)..
A further analysis of the equity market tradings showed that on sectoral performance, three sectors gained while two recorded losses, although the AFR-ICT Index sector was flat.
Specifically, the Consumer Goods Index which recorded 2.7 percent growth compared to the Banking Index growth of +2.7 percent led the gainers table following investors’ interest in Dangote Sugar which gained +8.2 percent, Cadbury, +8.9 percent, and Jaiz Bank, +9.5 percent.
Also, the Insurance Index rose by 0.4 percent following impressive performances of AIICO Insurance Plc’s stock which gained+8.5 percent) and Law Union Plc’s share value which gained +10.0 percent.
However, losers included WAPCO with -2.1 percent dip in share price, CUTIX -9.5 percent drop and Oando -1.0 percent. All these and others dipped the Industrial Goods Index by -0.5 percent and Oil & Gas posting -0.1 percent loss.