Stock Market Maintains Upbeat Performance as Investors Gain ₦98.5bn

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Stock Market Maintains Upbeat Performance as Investors Gain ₦98.5bn

Stock Market Maintains Upbeat Performance as Investors Gain ₦98.5bn

The Nigerian equity market opened the last trading week of September on bullish note, with the NSE All Share Index rising by 0.72% to 26,507.84 points.

Investors gained N98.5 billion, thus moderated year to date loss to 1.25% as market capitalisation hits 13.8 53 trillion.

Total Plc share gained 10.00% to N0.90, Champion Breweries Plc surged 6.34% to N1.33, and Oando Plc increased 9.85% to N2.23 as today’s best performing stocks.

On the other hand, UAC Property Dev Plc (-10.00% to N0.90), University Press Plc (-6.34% to N1.33), and Caverton Plc (-5.98% to N1.73) were the worst performing.

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Chapel Hill Denham said performance across the sectors under its coverage was positive.

The NSE insurance and the NSE oil & gas indices were today’s best performers, rising by 1.82% and 1.33% respectively.Stock Maintains Upbeat Performance as Investors Gain ₦98.5bn

This was followed closely by the NSE consumer goods and the NSE industrial goods indices which closed higher by 0.53% apiece. Similarly, the NSE banking index gained 26bps.

Market activity opened the week on a weak note, as volume and value traded declined by 58.43% and 49.68% respectively to 140mn units and 2.152 billion.

Most traded stocks by volume were Zenith Bank (85.11 million units), Sterling Bank (72.26 million units), and UBA Plc (42.35 million units).

Meanwhile the top traded by value are Zenith Bank Plc (1.55 trillion), MTN Nigeria (N692.18bn), and Guaranty Trust Bank Plc (396.21mn).

The Chapel Hill Denham’s Women Investment Fund (WIF) and Paramount Equity Fund (PEF) rose by 44bps and 98bps respectively.

Stock Market Maintains Upbeat Performance as Investors Gain ₦98.5bn