Domestic Bourse Index Rises by 2.18% to begin the year 2021 on a Positive Trajectory

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The local equities market started the year in green as its ASI advanced by 2.18% to close at 41,147.39 points amid sustained positive investor’s sentiment. Also, the Exchange recorded more gainers (32) than losers (2) even as the year-to-date gain of the NSE ASI rose to 2.18%.

Specifically, blue-chip stocks were the toast of investors today as tickers such as WAPCO, BUACEMENT, GUARANTY and ZENITH BANK advanced by 9.89%, 9.03%, 3.55% and 3.63% respectively.

Domestic Bourse Index Rises by 2.18% to begin the year 2021 on a Positive Trajectory Brandspurng
Source: NSE, Cowry Research

Similarly, gains were broad-based as all the sub-sector indices tracked closed in green; the NSE Banking, NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices rose by 3.68%, 4.39%, 1.41%, 0.09% and 4.66% respectively.

Meanwhile, activity in the market was weak as total deals, volume and value of stocks traded fell by 21.79%, 70.18% and 86.04% to 3,438 deals, 0.21 billion units and N1.40 billion respectively. Elsewhere, NIBOR rose for most tenor bucket amid renewed liquidity strain; albeit, NITTY fell for all maturities tracked amid demand pressure.

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In the OTC bonds market, the values of FGN bonds rose for most maturities tracked; also, the value of FGN Eurobond rose advanced for most maturities tracked.

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Domestic Bourse Index Rises by 2.18% to begin the year 2021 on a Positive Trajectory - Brand SpurDomestic Bourse Index Rises by 2.18% to begin the year 2021 on a Positive Trajectory - Brand Spur
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Domestic Bourse Index Rises by 2.18% to begin the year 2021 on a Positive Trajectory - Brand SpurDomestic Bourse Index Rises by 2.18% to begin the year 2021 on a Positive Trajectory - Brand Spur

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