Bulls party at Nigeria’s Stock market for the holiday, index up 0.76%

The Nigeria stock market finished higher for the fourth day in a row, as the avalanche of corporate earnings reports continues to find their way into the market.

The All-share index closed the last trading day of the month at 23,021.01 points, representing a 0.67% increase. Market capitalization similarly increased by the same margin to close at N11.997 trillion.

Activity levels showed that the All-Share Index had total volume and value increased by 29.57% and 27.87% to close at 359.46 million units and N3.258 billion respectively.

ACCESS BANK (+3.94%) was the most traded stock by volume at 64.60 million units, followed by FBNH (-1.11%), with 62.94 million units of trades. Market sentiment, as measured by market breadth, was positive with 21 gainers led by ARDOVA (+10.00%), as against 13 losers topped by PRESTIGE (-9.10%).

(READ MORE: Bulls hit a hat-trick at the Nigerian Stock Market, investors gain N73.24 billion)

On the sectoral front, two out of the five indices under our coverage posted gains. NEM (+6.80%) gains also increased at the Insurance index up by 1.22%, trailed by ARDOVA (+10.00%) to lift the Oil & Gas index by 1.04%.

On the flip side, the industrial, banking, and Consumer goods closed south mildly by (-0.47%), (-0.37%), and (-0.23%) respectively, as BUACEMENT, ZENITH BANK and NB closed lower.

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Top gainers

ARDOVA up 10.00% to close at N11.55; MTNN up 4.28% to close at N112; INTBREW up 4.17% to close at N5; ACCESS up 3.94% to close at N6.6; and WAPCO up 2.61% to close at N11.8.

Top losers

NB down 3.38% to close at N30; ZENITH BANK down 2.72% to close at N14.3; BUACEMENT down 1.21% to close at N32.6; GUINNESS down 0.54% to close at N18.4; and GUARANTY down 0.47% to close at N21.