Nigeria stock market ends 2020 on impressive note

December 31, 2020
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Nigerian Stocks ended the last trading session of the year on an impressive note as the All Share Index gained +1.92% to close at 40,270.72 index points as against the +1.03% surge recorded on Wednesday. Its Year-to-Date (YTD) returns currently stand at +50%.

It’s important to note that such yearly returns seen in the Nigerian Stock Exchange were the first in 17 years. Nigerian Stock Exchange capitalization settled at N21.057 trillion.

To close the year, a total volume of 710.7 billion units of shares, valued at N10.0billion exchanged hands in 4,396 deals. AIICO was the most traded shares by volume with 205.9 million units, while Zenith Bank topped by value at N1.09 billion.

Market breadth was however inverse of the broad index with 24 losers and 18 gainers. BOCGAS (+10.00%) led the gainer’s chart today, while ETERNA (-9.09%) was the top loser.

The sectoral performance was mixed as the Industrial and Oil & Gas sectors appreciated by 3.90% and 0.65%, while the Banking, Consumer Goods and Insurance sectors fell by -0.89%, -0.80% and -0.41%, respectively.

Sector Performances

NSE Industrial Index: Up by 3.90% on continued buy-interests in BUACEMENT (+9.87%). NSE Oil & Gas Index: Gained 0.65% on OANDO (+5.71%), and NSE Banking Index: Down by -0.89% on price depreciation in ETI (-7.69%), ACCESS (-3.43%), and FIDELITYBNK (-0.79%).

The world’s best performing stock market ended the last trading session of the year on an impressive note, as investors increased their buying pressure, especially on blue-chip stocks that include MTN Nigeria, BUA cement.

Investors’ appetite for riskier assets has remained strong amid an ultra-low yield prevailing on Nigerian fixed-income instruments.

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