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Bulls sustain hold, as investors gain N79bn

Bulls sustain hold, as investors gain N79bn

The bulls held on to gains at  the close trading at the Nigerian Stock exchange(NSE) which ensures that investors gained N79.5bn as market capitalisation rose to N11.9tn while year to date ( YTD)  loss moderated to -14.2percent. The local bourse advanced 67bps to close at 23,021.01 points due to price appreciation in MTNN (+4.3percent), Access bank (+3.9percent) and WAPCO (+2.6percent). Activity level improved as volume and value traded rose 29.6percent and 27.9percent to 359.5m units and N3.3bn respectively. The most active stocks by volume were Access bank (64.6m units), FBNH (62.9m units) and Guaranty trust bank (36.1m nits),while GTB (N759.5m), Access (N421.5m) and MTNN (N393.22m) led the value chart. Performance was mixed as 3 of 6 indices that we cover advanced. The AFR-ICT and Insurance indices led gainers, up 2.3percent and 1.2percent respectively following buying interest in MTNN (+4.3percent) and NEM (+6.8percent). Similarly, the Oil & Gas index appreciated 1.1percent on the back of gains by Ardova (+10.0percent) and Oando (+5.5percent). Meanwhile, the Industrial Goods and Banking indices slipped 0.5percent and 0.4percent respectively due to price decline in  BUA Cement (-1.2percent) and Zenith (-2.7percent) while losses in Nigerian Breweries (-3.4percent) dragged the Consumer Goods index 0.2percent down in value. Investor sentiment, as measured by market breadth, rose to 1.6x from the 1.2x recorded at the end of yesterday’s trading session, as 21 stocks gained relative to 13 losers. The top gainers were Ardova (+10.0percent), UPL (+9.3percent) and Livestock (+7.7percent) while Prestige (-9.1percent), Courtville (-4.5percent) and Nigerian Breweries (-3.4percent) were top losers.

source: https://www.dailytrust.com.ng/bulls-sustain-hold-as-investors-gain-n79bn.html