Geregu, Guinness, Zenith Drive Nigerian Equities To New Year High
Nigerian equities advanced by 0.1 percent on Monday as bargain-hunting equities investors mopped up high-cap stocks with gains in GEREGU (+6.9%), GUINNESS (+4.9%), and ZENITH (+0.6%) lifting the benchmark All Share Index by 12 basis points to 52,657.69 points.
Investors’ interest in telco heavyweight, MTNN (+0.04%), as well as GTCO (+0.21%), also contributed as primary drivers of the overall market gain of ₦34.32 billion in market capitalization to close at ₦28.68 trillion.
Consequently, the year-to-date return strengthened to 2.7 percent up from 2.6 per cent, the highest return in three weeks of trading since the new year.
Although volume traded fell 67.6 percent to 143.7 million, the value of transactions rose 5.4 percent to ₦1.8 billion exchanged in 4,078 deals buoyed by transactions on heavyweight equities of GEREGU, GUINNESS, ZENITH, MTNN, and GTCO.
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FBNH was the most traded stock by volume at 19.66 million, while MTNN was the most traded stock by value at N326.85 billion.
Sectoral performance was broadly positive, as the Insurance (+0.2%), Banking (+0.1%), and Consumer Goods (+0.1%) indices posted gains, while the Oil & Gas and Industrial Goods indices closed flat.
A total of 18 stocks gained with JOHNHOLT (+9.4%) and NSLTECH (+9.1%) top on the gainers’ list, while 13 stocks traded at losses led by CORNERST (-10.0%) and CWG (-9.6%).
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