Investors’ Appetite Sustains Equities Market Upward Look


The Nigeria equities market sustained the previous day’s bullish sentiment with a growth of 0.23 percent in the market performance indicators.

The uptrend was driven by investors’ appetite in all the market indices except the Industrial Goods that declined marginally by 0.002 percent.

Consequently, the All-Share Index surged by 88.15 bps, representing a 0.23 percent increase to close at 38,962.28. While the Market Capitalization gained ₦45.93 bn, representing a growth of 0.23 percent to close at ₦20.30 trillion.

→ Similarly, the market activities traded bullishly, as both the total volume and value traded higher by 403.60 percent and 409.36 percent, respectively.

A total of 633.53 million units of shares valued at ₦6.45 billion were traded in 3,228 deals.

FBNH outdid the traded stocks in terms of volume, accounting for 76.01 percent of the total volume of trades, followed by ETI (2.62%), ZENITHBANK (1.90%), ACCESS (1.82%), and TRANSCORP (1.48%) to complete the top five on the volume chart.

While, FBNH also appeared to be the most traded stock in value terms with 56.00 percent of the total value of trades on the exchange.

→ PHARMDEKO topped the gainers’ chart with price appreciation of 9.74 percent, followed by OKOMUOIL (5.77%), NASCO (4.59%), ACCESS (4.07%), ZENITHBANK (2.84%), UCAP (2.38%), GLAXOSMITH (1.67%), GTCO (1.28%), and UBA (0.67%), 16 others.

Conversely, SCOA led the decliners’ chart as its share price dipped by 9.38 percent to close at ₦0.87, as PRESCO (-8.18%), TOTAL (-3.61%), FLOURMILL (-0.85%), AFRIPRUD (-0.78%), FIDSON (-0.66%) and HONYFLOUR (-0.52%) amongst others also declined in price.

In conclusion, the market breadth closed largely positive, recording 25 gainers and 11 losers.