The Nigerian All Share Index on Tuesday sailed past 40,000 points for the first time in 3 years after it added 247 basis point to comfortably rest 1.29 percent above the 39,849.65 point it closed yesterday, to hit 40,362.97. The market capitalization in equal proportion closed 1.28 percent higher, arriving at N14.363trillion away from the previous N14.181trillion it closed yesterday.
The bulls continued to dominate the equities market as the bourse recorded its fourth consecutive gains on sustained investors’ optimisms, as virtually all major market metrics closed positive but for the absolute value of trade which declined 51.19% from N16.171billion to N7.893billion in the corresponding period.
The numbers of transactions and traded units of shares soared 28.19 and 27.52% above the previous record of 5,769 deals and 604,532,996.00 units of shares, to arrive at 7,395 deals and 770,886,027 units of shares respectively.
The market is in earnest expectation of the full year result, the performance of which is believed to be predictably impressive. All we can pray for is a continuous stable political milieu , the market should enjoy a lasting bullish regime as pointed by the global market rally.
There is an improvement in the general market statistics, comparing today’s trading activities with that of yesterday. The numbers of gaining stocks increased from 37 yesterday to 47 stocks today, bringing the number of losing stocks lower to 7 against 9 of yesterday out of 96 stocks traded this Tuesday 9th of December 2018.
Leading the percentage gainers list are Dangote Flour, which gained 10%, FCMB, which gained 9.05%, and WAPIC which gained 7.41% and host of others.
Conversely, UACP top the losers’ list, shedding 15kobo to close 4.72% lower than the previous N3.18, NAHCO closed at N42.89, 4.67% lower than the previous N4.50 and NESTLE lost N50 to close at N1,450, which is 3.33% lower than the previous N1,500.
Ten Best Stocks
Nigerian Breweries sustained investors’ charm as it again attracted more cash flow ahead of ZENITH AND GAURANTY, with a total sum of N1.437billion splashed on Nigerian Breweries within the trading session.
Major banking stocks feature as best stocks for the day in terms of deals, volume and value.
Zenith bank recorded the highest deals, exchanging hands 587 times and Diamond Bank recorded the highest volume, traded 219,651,811 units of shares.