Markets
Nigerian equity market uptrend persists
Investors continued to express positive sentiment in the Nigerian equity market as its uptrend persisted on Monday, driven by bargain hunting in SEPLAT, CONOIL, ZENITHBANK, ACCESS and MTNN.
The All-Share Index rose by 1.04% to 4 7,111.21 points, market capitalization increased by ₦262.18bn to ₦25.39tn, while YTD return increased to 10.29%,
Activity level was mixed as volume traded waned by -21.63% to 341.5mn units while value traded rose by 7.30% to ₦3.6 9bn. The most active stocks by volume were TRANSCORP (32.11million units), FIDELITYBK (25.15 million units) and ACCESS (23.46 million units) while GTCO (₦587.32mn), NGXGROUP (₦502.54mn) and ZENITHBANK (₦340.8 8m) led by value.
The Oil & Gas and Agriculture indices led the gainers up by 836bps and 362bps respectively, due to gains in SEPLAT (+10.00%), CONOIL (+9.7 9%) and FTNCOCOA (+8.57%).
In addition, the Healthcare and ICT sectors gained 141bps and 117bps respectively, owing to buy interest in FIDSON (+7.6 6%), MTNN (+2.53%) and COURTVILLE (+1.75%).
Similarly, gains in NNFM (+4.0 5%), INTBREW (+1.7 5%) and RTBRISCOE (+9.0 9%) drove the Consumer Goods (0.1 2%) and Services (0.1 1%)indices higher. On the flipside, the Banking and index declined by 8bps, owing t o selloffs in ETI (-7.2 0%),UBN (+1.6 7%)and FBNH (-1.3 0%).
The industrial goods index, however, closed flat.
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