The domestic bourse recorded its 8th consecutive daily gain after Wednesday’s trading, as investors’ interest in some Tier 1 bank names, NB (10.0%) and Dangote Cement (+0.6%) spurred today’s gain.

Thus, the All-Share Index increased by 1.4% to 24,143.37 points. Accordingly, Month-to-Date gain increased to 4.9%, as Year-to-Date losses moderated to -10.1%.

The total volume of trades increased by 23.6% to 426.64 million units, valued at NGN4.10 billion and exchanged in 7,384 deals.

FBNH was the most traded stock by volume at 91.92 million units while Guaranty was the most traded stock by value at NGN1.05 billion.

The positive performance in the market was reflective in the sectors, as all sectoral indices posted gains. The Banking (+5.3%) index led the gains, following gains in Guaranty (+9.3%) and Zenith Bank (+6.4%) stocks.

The Insurance (+3.7%), Consumer Goods (+2.0%), Oil and Gas (+1.3%) and Industrial Goods (+0.6%) indices followed suit.

Market sentiment, as measured by market breadth, was positive (8.8x), as 35 tickers gained, relative to 4 losers.

CHIPLC (+10.0%) and NB (+10.0%) were the top gainers of the day, while CI Leasing (-6.0%) and UACN (-3.5%) were the top losers of the day.

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