January 7, 2021 – Nigeria’s equities benchmark index rose today by 0.31% to 40,590.85 points. Year to date return and market capitalization settled at 0.79%, and N21.22 trillion respectively. Performance of the market was driven by bargain hunting on tier 1 banking names.
Volume and value traded fell by 7.94% and 14.60%, respectively to 229.87 million units and N2.56 billion, respectively.
The most traded stocks by volume were UBA NL (22.48 million units), DANGSUGAR NL (21.42 million units) and FIDELITYBK NL (15.71 million units), while DANGSUGAR NL (N397.84 million), ZENITHBA NL (N327.29 million) and GUARANTY NL (N315.05 million) topped the value chart.
The sectorial performance was broadly bullish as the banking, consumer goods, oil & gas sectors, and insurance gained 0.53%, 0.75%, and 5.65%, respectively. While the industrial goods closed flat as the insurance sector declined by 0.02%.
Market sentiment was positive as market breadth came in at 1.9x with 27 advancers and 14 decliners.