Nigeria’s stock market capped the last trading session of the week with a gain of 0.39%, which further extended bullish sentiment to three consecutive trading sessions.
The All Share Index (ASI) gained 116.05 absolute points, representing an increase of 0.39% to close at 30,086.91 points. Similarly, Market Capitalization surged by N43.37 billion representing a growth of 0.39% to close at N11.30 trillion.
The week’s positive close and sentiments were as a result of the positive 2019 first quarter (Q1’2019) results that have started to filter in.
Activity level for the week’s final session however showed it ended mixed as the volume traded advanced 5.1% to 227 million units while value traded dipped 46.1% to N1.7 billion.
ACCESS (58.4m units), ZENITH (27.4m units) and UBA (16.0m units) were the top traded stocks by volume while banking stocks – ZENITH (N574.6m), ACCESS (N403.4m) and UBA (N104.7m) – led the top traded stock by value.
The sector performance was largely positive as all major indices advanced save for the Oil &Gas index which declined 0.5% due to losses recorded In OANDO (-2.0%) and MOBIL (-1.6%).
On the flipside, the Insurance index led gainers up 1.6% due to price appreciation in MANSARD (+5.3%) and AIICO (+2.7). Similarly, the Banking index advanced 0.8% due to sustained buying interest in ACCESS (+3.0%) and UBA (+2.3%). In the same vein, the Consumer Goods and Industrial Goods indices gained 0.3% apiece on the back of gains in DANGSUGAR (+1.8%), UNILEVER (+1.5%) and DANGCEM (+0.5%).
Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 2.0x from 0.9x yesterday as 26 stocks gained against 13 losers. Leading the gainers chart, ROYALEX (+10.0%), LIVESTOCK (+9.1%) and FIRSTALUM (+7.9%) appreciated the most while CILEASING (-9.9%), UCAP (-9.8%) and BERGER (-9.2%) declined the most.