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Investors gained N109.9bn as market value hits N12.7trn

Investors gained N109.9bn as market value hits N12.7trn

The bulls maintained dominance at the close of trading on the Nigerian Stock Exchange (NSE), yesterday with investors gaining N109.9bn just as market capitalization rose to N12.7tn while year to date loss eased to -9.3percent. Price appreciation in Dangote cement (+4.3percent), Nestle (+2.6percent) and BUA cement (+1.6percent) lifted the benchmark index by 87bps to close at 24,354.25 points.
Activity level advanced as volume and value traded rose 1.1percent and 28.2percent respectively to 431.6m units of shares exchanging hands for  N5.3bn. The most active stocks by volume were FBNH (115.6m units), Zenith Bank (75.9m units) and Guaranty Trust bank (54.9m units) while Nestle (N1.4bn), GTB (N1.2bn) and Zenith (N1.1bn) led the value chart.
Performance across sectors was bullish as 4 of 6 indices covered advanced. The Consumer and Industrial Goods indices led gainers, up 2.4percent and 2.0percent respectively following price appreciation in Nestle (+2.6percent), Nigerian Breweries (+5.8percent), Dangote Cement  (+4.3percent ) and BUA cement (+1.6percent ).
Similarly, the Insurance and Oil & Gas indices appreciated 93bps and 57bps respectively on the back of gains in WAPIC (+6.7percent), CHI Plc (+9.1percent), Ardova (+9.7percent) and Conoil (+9.8percent). Profit taking in Zenith (-3.8percent) and GTB (-2.0percent ) dragged the Banking index 2.0percent  lower while the AFR-ICT index closed flat. Similarly, AIICO Insurance Plc submitted its Audited FY:2019 Result  to the NSE which indicates that the  Gross Premium Written rose 33.6percent  Y-o-Y to N49.4bn from N37.0bn in FY:2018 while the company recorded a 98.0percent  surge in profit after tax to N5.2bn from N2.6bn in FY:2018. Sterling Bank Plc also published its unaudited Q1:2020 Result with a Gross Earnings fell 6.7percent Y-o-Y to N32.9bn from N35.3bn in Q1:2019 while the company recorded a 36.3percent decline in profit after tax to N2.1bn from N3.2bn in Q1:2019.

Source: https://www.dailytrust.com.ng/investors-gained-n109-9bn-as-market-value-hits-n12-7trn.html