BusinessNigerian Stock Market Heads To Xmas Holiday With 5.4% Gain

Nigerian Stock Market Heads To Xmas Holiday With 5.4% Gain


SAN FRANCISCO, December 25, (THEWILL) – The Nigerian equity market went for the Christmas holidays with5.4% gain this week, driven by an appreciation by Dangote Cement, Mansard , and Oando on Thursday.

The All-Share index was up 5.4% week-on-week to 38,800.01 points, while investors gained ₦1.0trillion as market capitalisation advanced to ₦20.3trillion, improving year-to-date to 44.5%.

FTNCOCOA (+56.1%), OANDO (+27.3%) and CUTIX (+25.0%) led the 46 gainers chat, while CILEASING (-9.8%), TRANSEXP (-9.2%) and JOHNHOLT (-8.9%) led the other nine decliners.

The average volume and value traded increased by 238.6% and 82.2% to 389.7m units and ₦8.0bn respectively.

The most traded stocks by volume were ZENITH (198.9m units), MANSARD (158.3m units) and FLOURMILL (129.8m units) while DANGCEM (₦6.4bn), ZENITH (₦4.9bn) and GUARANTY (₦3.9bn) led the value chart.

The Industrial Goods and Insurance indices were the most appreciated 12.1% and 6.0% w/w gains respectively, driven by gains in DANGCEM (+22.5%) and MANSARD (+25.0%).

The AFR-ICT and Oil & Gas indices closed 5.8% and 1.4% higher w/w respectively, underpinned by buying interest in AIRTELAF (+10.0%), MTNN (+3.2%) and OANDO (+27.3%).

Also, the Consumer Goods index gained a marginal 0.3% w/w, buoyed by price appreciation in HONYFLOUR (+11.8%) and FLOURMILL (+7.5%).

However, the Banking index was the only lagger, losing 1.0% w/w due to losses in GUARANTY (-2.8%) and ZENITH (-1.0%).


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