Nigeria Stock Market Sustained its Bullish Trend on Zenith Bank, Seplat Shares
The NSE All Share Index (ASI) revved by 0.74 per cent beginning Monday, the third trading week in 2020 on a positive note, even though the Exchange recorded lower number of gainers than losers.
The year to date gain of the NSE ASI rose to 10.40 per cent from 9.59 per cent. Despite Investors’ interest in bellwether stocks such as Seplat, MTN and UBA, three of the five sub-sectors closed in red zone.
NSE Banking, NSE Consumer Goods and NSE Industrial indices moderated by 0.70 per cent , 0.42 per cent and 3.17 per cent respectively.
However, NSE Insurance and NSE Oil/Gas indices rose by 0.30 per cent and 0.07 per cent respectively.
The total volume of trades increased by 23.96 per cent to 348.24 million units, valued at NGN8.55 billion and exchanged in 5,377 deals. Zenith Bank was the most traded stock by volume at 80.78 million units while Seplat was the most traded stock by value at NGN2.58 billion respectively.
Market activity was upbeat as the total volume and value of stocks traded surged by 23.96 per cent and 77.51 per cent to 0.35 billion units and N8.55 billion respectively.