The bullish momentum in the Nigerian Stock Exchange (NSE) continued yesterday as the All-Share Index rose 125bps to close at 24,758.39 points following price accretion in BUA cement (+9.9percent ), Zenith Bank (+3.0percent ) and Unilever (+9.3percent ).
Consequently, investors’ value appreciated N462.3bn to N12.9tn while Year-To-Date (YTD) returns settled at -7.8percent.
Activity level advanced as volume and value traded rose 58.4percent and 51.4percent to 350.7m units and N3.7bn respectively.
The most active stocks by volume were Zenith (57.4m units) Eko corp (57.0m units), and FBNH (44.4m units) while Zenith (N961.4m), Guaranty Trust Bank(N764.8m) and Eko Corp (N342.0m) led the value chart.
Performance was bullish as all indices under our coverage advanced save AFR-ICT index which closed flat.
The Industrial Goods index (+5.7percent ) gained the most due to price upticks in BUA cement (+9.9percent ) and Cutix (+9.4percent ). Gains in Zenith (+3.0percent ), Access (+2.3percent ) and Mobil (+10.0percent ) buoyed performance in the Banking (+1.4percent ) and Oil & Gas (+1.4percent ) indices.
Also, the Insurance (+1.0percent ) and Consumer Goods (+0.4percent ) indices closed in the positive region following buying interest in SUNU Assurance (+10.0percent ), WAPIC (+6.5percent ), Unilever (+9.3percent ) and Guinness (+9.3percent ).
Investor sentiment as measured by market breadth dropped to 3.2x from the 7.4x recorded in the previous session as 29 stocks gained relative to 9 losers.
The top gainers were Red Starex (+10.0percent), Mobil (+9.9percent ) and BUA cement (+9.9percent ) while Arbico (-9.9percent ), Oando (-5.8percent ) and Flour Mills (-4.8percent ) were top losers.