2021: Stock market resumes trading on a high

Market breadth closed positive with 32 gainers as against two losers.

News Agency of Nigeria • January 4, 2021

NSE building used to illustrate the story (Photo Credit: Bloomberg Quint)

The Nigerian Stock Exchange (NSE) resumed trading in 2021 on a bullish trend with the All-Share Index surpassing the 41,000 mark, as investors continued to position ahead of full year results and dividend declaration.

Specifically, the All-Share Index inched higher by 876.67 points or 2.18 per cent to close at 41,147.39 from 40,270.72 achieved on Thursday.

Also, the market capitalisation, which opened the year at N21.056 trillion rose by N459 billion or 2.18 per cent to close at N21.515 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are: BUA Cement, Lafarge Africa, Guaranty Trust Bank, Flour Mills and Dangote Sugar Refinery.

GTI Securities Ltd expressed optimism that the domestic stock market would resume the new year upbeat with a less attractive nature of the fixed income market.

Market breadth closed positive with 32 gainers as against two losers.

Honeywell Flour Mill, Sovereign Trust Insurance and Transcorp led the gainers’ chart in percentage terms, gaining 10 per cent each, to close at N1.32, 22k and 99k per share, respectively.

International Breweries and Fidelity Bank followed with 9.92 per cent each, to close at N6.54 and N2.77 per share, respectively.

BUA Cement increased by 9.89 per cent to close at N85 per share.

Conversely, the FCMB Group led the losers’ chart in percentage terms with a loss of 6.01 per cent to close at N3.13 per share.

Caverton shed 3.41 per cent to close at N1.98 per share.

Meanwhile, the total volume of shares traded declined by 70.18 per cent with an exchange of 211.93 million shares worth N1.41 billion in 3,438 deals.

This was in contrast with 710.71 million shares valued at N10.08 billion exchanged in 4,396 deals on Thursday.

AIICO Insurance topped the activity chart with 87.52 million shares worth N98.96 million; FCMB Group sold 19.67 million shares valued at N60.08 million, while Transcorp accounted for 12.78 million shares worth N12.61 million.

Lafarge Africa sold 9.95 million shares valued at N222.98 million, while Access Bank transacted 9.60 million shares worth N85.39 million.

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