The Nation’s equity market yesterday opened the month of December, extending recovery gain of N56 billion.
The growth came from positive sentiments that followed the better-than-expected 2020 Q3 corporate earnings reports, sliding money market rates as investors positioned for higher yields in equity assets.
Market Capitalisation of listed equities increased by N56 billion to N18.364 trillion from N18.309 trillion reported the previous day.
The NSE All Share Index also appreciated by 105.48 basis points to 35147.62 points from 35042.14 traded on Monday.
Investors traded 308.180 million shares valued at N3.402 billion in 4515 deals against 415.531 million shares cost N4.897 billion in 5267 deals.
Capital market operators said that the strong rally followed the nine-month earnings reports from quoted companies with December financial year, supported by leading market fundamentals, like the rates crash in other fixed income trading instruments.
A review of the investment during the day showed that Guaranty Trust Bank led gainers table, increasing N1.80 kobo to close at N35.00, Seplat Petroleum Development Company followed with a gain of N1.60 kobo to close at N402.30 kobo, Zenith Bank gained N0.40 kobo to close at N24.40 kobo, Caverton added N0.17 kobo to close at N1.89 kobo Cutix Increased by N0.15 kobo to close at N1.68 kobo.
