Equity investors spent N2.98 million to purchase 171.22 million shares at the close of trading today on the floor of Nigerian Stock Exchange (NSE).
As a result of what can be described renewed buy-interest, the equities market closed in the up due to gains across all sectors.
Analysis of sector-by-sector growth performance show Banking Index closed up by 0.77 percent, majorly due to investors interest in shares of First City Monument Bank who added 9.44 percent, Diamond Bank (+6.56%) and FBNH (+2.66%).
The Consumer Goods Index added 0.19 percent, largely driven by interest in Honeywell Flourmill with 9.88 per cent, NESTLE (+3.52%) and NASCON (+2.50%). Industrial Index: Increased by 0.17 percent, following the buy interests in CCNN (+8.78%). Oil & Gas Index rose by 0.10 percent, complemented by gains in Capital Oil with 8.70 percent increase and Oando (+1.04%).
Contrary to yesterday, the equities market ended today’s trading session in the green, gaining 0.22 percent with the benchmark indices of the All-Share Index (ASI) adding 80.42 absolute points to firm at 36,427.22 as against 36,346.80 on Wednesday.
The market capitalization also adds N29 billion from N13.166 trillion to stand at N13.196 trillion at the close of trading session for today.
Equity analyst at InvestmentOne, a research firm said despite the continued sell-off in the equities market, “We believe this presents decent entry opportunities in our quality names. Furthermore, we could see investors take position in anticipation of the release of H1 2018 results and possible corporate action.”
Market breadth index was neutral with 20 gainers against 20 stocks that declined. Honeywell Flour Mill topped the gainers table with +9.88 percent while Neimeth International led on the losers table with -9.30 percent. Investors bought and sold 1.94 percent of Zenith Bank to emerge the toast of investors.