Bulls tighten grip by 0.99% in year-end window-dressing as investors gain N987bn
Bamidele Famoofo
Transactions on the Nigerian bourse ended on a positive note in 2024 as All-share Index rose by 0.99 per cent,
closing at 67,133.19 points.
As a result, the year-to-date gain for the market reached 30.9 per cent , with the market capitalization growing by N17.97 billion to N36.88trillion.
The surge in bullish sentiment was particularly notable in the Banking and Consumer goods sectors. Key contributors to Thursday’s gains included
THOMASWY (9.79%), COURTVILLE (8.77%), DEAPCAP (8.00%), AFRIPRUD (7.69%), and UNILEVER (6.04%), all experiencing significant upward movements.
This positive momentum resulted in more gainers (22) than decliners (9) on the exchange. Sectoral performance was a mixed bag, with two of the five tracked indexes ending in the green, two remaining relatively flat, and one posting losses. The Banking and Consumer goods indexes led the gainers, advancing by 0.94 per cent and 0.07 per cent, respectively.
In contrast, the Insurance sector faced a decline, plummeting by 1.80 per cent, while the Oil & Gas and Industrial Goods indexes held steady compared to the previous session. Trading activity levels on Thursday were lackluster, with a notable decrease in both the total number of deals and trading volume.
Total deals saw a 0.87 per cent decline, totaling 5,588 trades, and trading volume dropped significantly by 24.62 per cent, reaching 309.32 million units.
Market sentiment remained optimistic, as 39 stocks appreciated compared to 21 decliners. Leading the gainers were
MECURE, PRESTIGE, NEIMETH, LASACO, and LIVINGTRUST, while THOMASWY, CAVERTON, WAPIC, HMCALL, and LIVESTOCK.
Trading activity was robust, with the number of deals and trading volume increasing by 7.55 per cent and 36.78 per cent, respectively.
However, trading value fell by 14.05 per cent. In total, 617.86 million shares worth N15.03 billion changed hands across 13,499 transactions, with UNIVINSURE leading in trading volume, trading 71 million shares worth N41 million across 259 deals.