BEVERLY HILLS, November 01, (THEWILL) – The equities market of the Nigerian Stock Exchange(NSE) finished the month of October on a bullish note as the all share index (ASI) gained 3.71 percent at 30,530.69 points — the highest in 16 months.
The last time it crossed the 30,000 mark was on June 14, 2019, when it hit 30,046.70.
THEWILL recalls that at the end of trading on Friday, the market capitalisation which opened at N15.386 trillion inched higher by N371 billion or 3.71 per cent to close at N15.957 trillion.
A breakdown of the price movement chart shows that 43 stocks recorded price appreciation in contrast with 11 losers.
The insurance sector gained 2.30 percent; oil & gas, 3.07 percent; banking, 3.48 percent; consumer goods, 5.58 percent, and industrial, 5.53 percent.
Local investors have continued to flock the stock market in search of returns as yields on government debt tanked after a surprise September rate cut by the monetary policy committee (MPC).
Some of the notable results submitted included WAPCO, Airtel Africa, Stanbic IBTC, Flour Mills, Nestle, Nigerian Breweries and MTN Nigeria — they all published strong growth numbers.
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On the other hand, Guinness dominated the losers’ chart, declining by 55k to close at N17 per share.
NAHCO trailed with 12k to close at N2.10, while PZ Cussons dipped 10k to close at N4.45 per share.
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