Stock Market Rebounds as Investors Assess Q3 Earnings’ Reports

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The Nigeria stock market rebounded from Wednesday’s rout as the investors assessed the Q3’21 earnings’ reports to readjust portfolios after the 364-days NTB paper auctioned by the CBN slows by c.26bps to 6.99% from the previous NTB auction.

Consequently, the All-Share Index increased by 171.55bps, representing a growth of 0.41 percent to close at 41,961.14. While the Market Capitalization gained ₦89.53Bn, representing an upsurge of 0.41 percent to close at ₦21.90 trillion.

→ Also, the market activities traded positively, as the Total Volume and Value rose by 96.38 percent and 37.50 percent. A total of 558.89 million units valued at ₦4.40 billion were transacted in 4,683 Deals.

FBNH topped the traded stocks in terms of volume, accounting for 29.09 percent of the total volume of trades, maintaining the position as the most trading stock, followed by TRANSCORP (20.70%), CILEASING (11.35%), UBA (10.74%), and ACCESS (5.18%) to complete the top five on the volume chart.

Also, FBNH appeared as the most traded stock in value terms, with 42.53 percent of the total value of trades on the exchange.

→ On the profitability table, CADBURY and GUINNESS led in the gainers’ chart as their share prices appreciated by 10.00 percent, respectively, trailed NB (6.37%), AFRIPRUD (4.10%), WAPCO (1.59%), UBA (1.19%), OANDO (0.99%), MTNN (0.92%), VITAFOAM (0.57%), FIDELITYBK (0.36%), ZENITHBAK (0.20%) and 10 others.

On the other hand, 13 stocks depreciated in price led by MANSARD with price decline of 6.02 percent to close at ₦2.34, as JAPAULGOLD (-4.44%), NEM (-2.50%), CILEASING (-2.13%), HONYFLOUR (-1.10%), STERLNBANK (-0.66%), ACCESS (-0.53%), and NGXGROUP (-0.25%), also depreciated in price. In conclusion, the market breadth closed positive, recording 21 gainers and 13 losers.