Stock Market Index Jumps 0.27% As Investors Scurry for Value Stocks

Trading activities on the floor of the Nigerian Stock Exchange,NSE, appreciated further on Monday, March 8, as the All Share Index (NSE ASI) appreciated by 0.27% to 25,890.94 points, compared with the marginal appreciation of 0.01% recorded last Friday.

on the Nigerian Stock Exchange as investors continued to take strategic positions in some value stocks ahead of their corporate earnings and dividends declaration.

Year-to-date (YTD), the Index depreciated by 9.61%.

Similarly, the Market Capitalization appreciated marginally by 0.27% to close at N8.91trn, compared with the marginal appreciation of 0.01% recorded last Friday to close at N8.88trn.

The appreciation recorded in the share prices of Oando, UBA, Stanbic IBTC, FBN Holdings, and Transcorp were mainly responsible for the gain recorded in the Index.

The total value of stocks traded on the floors of The NSE today was N1.31bn, down by 12.09% from N1.49bn traded last Friday. The total volume of stocks traded was 186.37mn in 3,106 deals.

The three most actively traded stocks were: Zenith Bank (25.45mn), Fidelity Bank (25.31mn) and FBN Holdings (19.86mn). The most actively traded sectors were: Financial Services (146.51mn), Conglomerates (19.23mn) and Consumer Goods (13.22mn).