Market Wrap – Nigerian Bourse gains 0.14%

Gains remained throughout today’s session at the Nigerian Stock Exchange on the back of buying interest in Guaranty Trust Bank (+2.1%), Zenith Bank (+0.9%) and International Breweries (+7.1%). After 3,108 deals, the All-Share Index advanced 14bps to close at 25,171.32 points.
Market capitalisation rose to ₦13.1tn while year-to-date loss improve to -6.2% as investors gained ₦18.2bn.

The activity level of the local bourse waned as volume and value traded fell 33.6% and 37.6% respectively to 180.0m units and ₦1.5bn.
The top traded stocks by volume were Zenith Bank (35.9m units), Access Bank (29.1m units) and Transcorp (16.5m units) while Zenith Bank (₦605.2m), Guaranty Trust Bank (₦201.3m) and Access Bank (₦187.4m) led by value.

The Banking index recorded the strongest gain, advancing 0.8% due to buying interest in Guranty Trust Bank (+2.1%), Zenith Bank (+0.9%) and UBA (+0.8%). Similarly, price appreciation in AIICO (+2.2%) and International Breweries (+7.1%) lifted the Insurance and Consumer Goods indices by 0.4% and 0.2% respectively.

Analysts from Afrinvest say bargain hunting is expected to persist in subsequent trading days.

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