Nation’s equities market witnessed one of the highest profit in 2023 as investors gain N851bn in one day.
The market went up on Monday by 2.48 per cent as the All-Share Index(ASI) while the equities capitalization rose from 63,040.41 points to 64,603.69 points.
Market performance was driven by continued demand in MTNN, Dangote Cement, Stanbic while the Industrial Goods, Insurance, Oil and Gas as well as Banking indices closed in the green as the Consumer Goods index declined.
Volume and value traded surged by 49.80 per cent and 59.11 per cent, to 1.84 billion units.
A total of N22.033bn shares exchanged hands in 14,584 deals.
The upturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Dangote Cement, Conoil, MRS Oil Nigeria, MTN Nigeria Communications (MTNN) and Stanbic IBTC Holdings.
Analysts at United Capital Plc said “we expect the bullish sentiments in the equities market to persist on the back of the attractiveness of the market over the depressed rates in the fixed-income market.
