Stock in­vestors gain N720bn in eight days

The Punch - - CAPITAL MARKET - Sto­ries: Fey­isayo Popoola

Eq­uity in­vestors have counted gains to­talling N720bn as the stock mar­ket ex­tended its gain­ing streak to the eighth con­sec­u­tive day.

the mar­ket cap­i­tal­i­sa­tion of eq­ui­ties rose to N13.316tn at the end of trad­ing on the floor of the Nige­rian Stock Ex­change on tues­day from N12.596tn on De­cem­ber 24, 2019.

in the last trad­ing days in the year 2019, the mar­ket gained N362bn and a fur­ther N358bn in the first four days of 2020.

At the end of trad­ing on tues­day, the eq­ui­ties mar­ket sus­tained its bullish trend fol­low­ing price ap­pre­ci­a­tion in Dan­gote Ce­ment Plc, Zenith Bank Plc and Ac­cess Bank Plc, which pulled the All-share in­dex up 0.90 per cent to close at 27,586.93 ba­sis points.

Ac­tiv­ity level was mixed as vol­ume traded fell by 14.2 per cent to 446.383 mil­lion units while value traded in­creased by 8.8 per cent to N5.820bn.

the top traded stocks by vol­ume were United Bank for Africa Plc (86.8 mil­lion units), Zenith Bank (73.2 mil­lion units) and FBN Hold­ings Plc (34.7 mil­lion units) while Zenith Bank (N1.5bn), UBA (N709.4m) and Dan­gote Ce­ment (N697.0m) were the top traded stocks by value.

Per­for­mance across sec­tors was largely bullish as all in­dices, ex­cept the AFRICT and oil and gas in­dices lost due to sell-offs in MTN Nige­ria Com­mu­ni­ca­tions Plc and Forte Oil Plc.

the bank­ing in­dex led gain­ers with a 1.9 per cent gain con­se­quent on buy­ing in­ter­est in Zenith Bank and Ac­cess Bank.

Sim­i­larly, the in­dus­trial goods and in­sur­ance in­dices edged higher on the back of gains in Dan­gote Ce­ment and La­farge Africa Plc, as well as Con­sol­i­dated

Hall­mark in­sur­ance Plc and AIICO in­sur­ance Plc.

Buy­ing in­ter­est in Flour Mills of Nige­ria Plc and PZ Cus­sons Nige­ria Plc pushed the con­sumer goods 0.2 per cent higher.

in­vestor sen­ti­ment weak­ened as mar­ket breadth (ad­vance/de­cline ra­tio) waned to 1.4x from the 2.3x recorded on Mon­day as 26 stocks gained as op­posed to 19 losers.

The top five gain­ers were Fid­son Health­care Plc, PZ Cus­sons, Unity Bank Plc, Con­sol­i­dated Hall­mark in­sur­ance and Cor­ner­stone in­sur­ance, which gained 9.80 per cent, 9.80 per cent, 9.59 per cent, 9.09 per cent and 8.62 per cent re­spec­tively.

The top five losers were NCR Nige­ria Plc, Live­stock

Feeds Plc, Courtevill­e Busi­ness So­lu­tions Plc, Forte Oil Plc and Jaiz Bank Plc, whose re­spec­tive share prices de­clined by 10 per cent, eight per cent, 7.69 per cent, 6.11 per cent and 4.41 per cent.

An­a­lysts at Afrin­vest Se­cu­ri­ties Lim­ited said fol­low­ing the re­cent trend in the mar­ket, they main­tained a bullish out­look on the mar­ket this week.

Photo: Sov­er­eign Trust In­sur­ance Plc

•L-R: Vice Chan­cel­lor, Univer­sity of La­gos, Prof Oluwa­toyin Ogundipe; Ex­ec­u­tive Di­rec­tor, Tech­ni­cal Op­er­a­tions, Sov­er­eign Trust In­sur­ance Plc, Jude Modilim; and Prof Es­ther Adeg­bite, at the 2019 Staff Din­ner and Awards of the Fac­ulty of Man­age­ment Sciences, Univer­sity of La­gos …on Fri­day.

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