Stock Market Begins 2020 With N13bn Gain
The Nigerian Stock Exchange began trading for 2020 on a positive note as investors gained N13bn.
The market capitalisation of equities increased from N12.958tn, which it ended 2019 with, to N12.971tn.
The benchmark index (All Share Index) appreciated by 0.10 per cent to settle at 26,842.07 basis points as the year-to-date return stood at 0.10 per cent.
A total of 264.104 million shares valued at N5.231bn exchanged hands in 3,178 deals.
The top traded stocks were Access Bank Plc, which sold 33.54 million shares worth N335.58m; Zenith Bank Plc, which traded 30.91 million shares valued at N578.18m, United Bank for Africa, which traded 28.17 million shares worth N202.59m and Guaranty Trust Bank Plc, which recorded a total turnover of 18.89 million shares valued at N553.42m.
Performance across sectors was largely bearish as all sectors, save the insurance sector, recorded losses.
The insurance index increased by 0.97 per cent on the back of major gains in Royal Exchange Plc and Cornerstone Insurance Plc.
On the flip side, the oil and gas index emerged the biggest loser, down by 5.01 per cent as a result of losses recorded in Seplat Petroleum Development Company Plc.
The industrial goods index trailed, shedding 2.26 per cent dragged by the poor performance of Lafarge Africa Plc.
The banking and consumer goods index depreciated by 0.39 per cent and 0.10 per cent, respectively.
MTN Nigeria Communications recorded the biggest gain of the day, appreciating by N4 to close at N109 per share.
Dangote Sugar Refinery Plc followed with a gain of 40 kobo to close at N14, while FBN Holdings gained 35 kobo to close at N6.50 per share.
UACN Property Development Company Plc gained 30 kobo to close at N8.90, while Vitafoam Nigeria Plc’s share price increased by 30 kobo to close at N4.70 per share.
On the flip side, Seplat recorded the highest loss for the day, shedding N65.70 to close at N592.10 per share while Lafarge Africa trailed with a loss of N1.60 to close at N13.80.
FBNH was the most traded stock by volume at 60.27 million shares valued at N384 million.