Business/Finance

Equities investors gain N458.4bn on first-day, as ASI adds 2.2 per cent

Access Bank

The Nigerian equities market opens the year 2021 sustaining the positive sentiments it ended the year 2020 as the market, on the first trading session, gains 2.18 per cent.

Specifically, investors at the Nigerian Stock Exchange (NSE) gained N458.40 billion on Monday as the market capitalisation settled at N21.52 trillion at the end of trading activities.

Consequently, the All-Share Index (ASI) settled at 41,147.39 points after advancing by 2.18 per cent, thus the Year-to-Date (YtD) and Month-to-Date (MtD) remained at +2.18 per cent.

The performance was also impressive as the local bourse recorded more gainers than losers with 32 against two.

The impressive market return on Monday was largely attributable to investors buying interest in some banking stocks, specifically Guaranty Trust Bank’s and Zenith Bank’s; BUA Cement and WAPCO.

On the performance chart, Honeywell Flour and Transnational Corporation recorded the largest gains of the day having advanced by recorded ten per cent respective growth in the share value, while FCMB and Caverton were the losers of the day with six per cent and 3.4 per cent respective losses.

Gains were broad-based as all the sub-sector indices tracked closed in green; the NSE Banking, NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices rose by 3.68 per cent, 4.39 per cent, 1.41 per cent, 0.09% and 4.66 per cent respectively.

The total volume traded however declined by 70.2 per cent to 211.93 million units, valued at N1.41 billion, and exchanged in 3,438 deals.

AIICO was the most traded stock by volume at 87.52 million units, while Zenith Bank was the most traded stock by value at N225.72 million.

 

Nigerian Tribune

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