Equity Market Sustain Uptrend as NGX-ASI Rises Above 42,000 index

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On Friday, the Nigeria stock market sustained the previous day positive sentiment as the NGX-ASI grew by 0.18 percent to rise above 42,000 points.

The growth was impacted by the investor’s positive reaction towards the released Q3 earning reports.

As a result, the All-Share Index increased by 77.46bps, representing a growth of 0.18 percent to close at 42,038.60.

While the Market Capitalization gained ₦40.42Bn, representing an upsurge of 0.18 percent to close at ₦21.94 trillion.

→ Also, the market activities traded bullishly, as the Total Volume and Value rose significantly by 102.14 percent and 212.85 percent.

A total of 1.13 billion units valued at ₦13.8 billion were transacted in 5,458 Deals. FBNH topped the traded stocks in terms of volume, accounting for 17.02 percent of the total volume of trades, maintaining the position as the most trading stock, followed by TRANSCORP (8.35%), WEMABANK (7.03%), AIICO (6.51%), and WAPCO (5.38%) to complete the top five on the volume chart.

Also, FBNH appeared as the most traded stock in value terms, with 21.17 percent of the total value of trades on the exchange.

→ On the profitability table, GUINNESS led in the gainers’ chart as its share prices appreciated by 10.00 percent, trailed CUSTODIAN (9.74%), TOTAL (9.45%), OKOMUOIL (7.66%), VITAFOAM (5.71%), WAPCO (5.47%), ETI (4.09%), UBA (1.18%), UCAP (1.10%), ZENITHBAK (0.80%), ACCESS (0.53%), GTCO (0.35%) and 20 others.

On the other hand, 19 stocks depreciated in price led by REGALINS with price decline of 9.76 percent to close at ₦0.37, as DANGSUGAR (-5.56%), FBNH (-5.15%), NB (-2.30%), ARDOVA (-2.01%), OANDO (-0.98%), UACN (-0.88%), and STERLNBANK (-0.67%), also depreciated in price.

In conclusion, the market breadth closed positive, recording 32 gainers and 19 losers.