NSE ROUNDUP: Bull run lifts volume of trade by 8% amid higher investors’ confidence

Trade activities continued to be boosted by the optimism of investors in the market condition of the Nigerian Stock Exchange (NSE) this week, with stocks appreciating by N248.985 billion and turnover enlarging further by 8%.

Investors discouraged by low yields in fixed income securities including bonds and treasury bills are casting their glances elsewhere and the stock market, with its days of consistent gains, seems the safe spot for investment at present, drawing an army of them.

A handful of companies 9-month financial statements came with some reporting impressive results, notably Dangote Cement, and the release of more, particularly those of big-cap banks in the days ahead might strengthen gains further.

All the key market performance indicators climbed further. A positive market breadth was recorded as 40 gainers emerged against 20 losers. The All Share Index (ASI) and market capitalisation advanced by 1.56% and 1.59% in that order. While the former closed at 31,016.17 basis points, the latter closed at N16.207 trillion.

Read also: NSE ROUNDUP: Stocks record N958bn gain as company results bolster sentiments

Trade volume of 2.067 billion shares worth N22.636 billion was recorded in 25,187 deals relative to the 1.909 billion shares valued at N23.610 billion posted in 23,578 deals last week.

On the activity chart, the Financial Services sector dominated trade with 1.575 billion shares estimated at N13.725 billion traded in 14,521 deals. Specifically, it added 76.21% and 60.63% to the total equity volume and value respectively. The Consumer Goods sector came next, trading 178.574 million shares worth N3.609 billion in 4,669 deals. The Conglomerate sector was third, trading 102.697 million shares priced at N155.195 million in 599 deals.

As regards index movement, all indices appreciated save for NSE Insurance, NSE-Main Board and NSE Oil and Gas, which fell by 1.32%, 0.62% and 0.77%. the NSE ASem Index did not change.

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