Bulls Maintains Grip as the Domestic Bourse Index Rises by +0.11%

January 13, 2021/Cowry Asset

Image Credit: oilprice.com

At the close of Wednesday’s trade, the local equities market closed higher by 0.11% to 40,341.05points as investors continue to hunt for bargains in the market.

Consequently, the year-to-date gain of the NSE ASI advanced to 0.17%even as the Exchange printed more gainers (32) than losers (16). Specifically, sentiment remain positive in the market amid investors demand for blue-chip stocks such as SEPLAT, WAPCO, FLOURMILL and ZENITHBANK.

Hence, their respective share prices rose by 0.08%, 1.35%, 6.93% and 0.39% respectively. Sectorial performance was positive as three out of the five indices tracked closed in green; the NSE Insurance, NSE Consumer Goods and NSE Industrial indices rose by 3.61%, 0.36% and 0.99% respectively.

However, the NSE Banking and NSE Oil/Gas indices fell by 0.62% and 0.05% respectively. Meanwhile, activity in the market waned as total volume and value of stocks traded declined by59.86% and 12.63% to0.46billion units and N6.9billion respectively.

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