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NSEASI Closes Above 33,000bpts, Hits 24-Month High as CAP Records N324.63bn Gain

Market Updates	837 VIEWS
Market Updates
837 VIEWS

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Wednesday, November 11, 2020 / 03:59 PM / Proshare MARKETS / Header Image Credit: Proshare

Reference: Proshare MARKETS

Equities market closed today on a positive note, as NSEASI appreciated by +1.90% to close at 33,268.36 basis points as against +1.25% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +23.94%.

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Market Breadth (Look Up Market Data)

Market breadth closed positive as STERLNBANK led 51 Gainers as against 7 Losers topped by LEARNAFRCA at the end of today's session - an improved performance when compared with previous outlook.

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Market Turnover

Market turnover closes positive as volume moved up by +48.27% as against -9.00% downtick recorded in the previous session. FBNH , TRANSCORP and ZENITHBANK were the most active to boost market turnover. ZENITHBANK and GUARANTY topped market value list.

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Volume Shockers

ACADEMY leads the list of active stocks that recorded impressive volume spike at the end of today's session.

Other Volume Spikes

Additional Comments

The NSEASI further recorded a growth of +1.90% at the close of trading today to maintain the positive market posture witnessed in the last three (3) trading days as the broad market index closes above 33,000bpts to hit 24-month high. This represents about 621.26 basis points increases. Market Experts are of the view that the surge recorded is driven by the realization that there is a need to increase allocation to risk assets to earn inflation adjusted return in a record low yield environment. Hence, the strong rally in the equities market over the past three months.

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