Wemabank Led 24 Others to Stock Market Rebound

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The Nigeria stock market rebounds on Friday after two consecutive trading days of decline.

The upturn in the market sentiment was driven by the investors’ positive reaction in medium capped stocks. Consequently, the market index (All-Share Index) rose by 70.67 basis points representing a growth of 0.17 percent to close at 42,014.50.

While the Market Capitalization gained ₦36.88Bn, representing an increase of 0.17 percent to close at ₦21.93 trillion.

→ Similarly, the market activities traded positively, as the Total Volume and Value traded climbed by 72.20 percent and 69.19 percent, respectively.

A total of 277.04 million units valued at ₦2.38 billion were transacted in 3,524 Deals.

Today, STERLNBANK topped the traded stocks in terms of volume, accounting for 30.16 percent of the total volume of trades, followed by FBNH (18.99%), ACCESS (7.77%), TRANSCORP (5.64%), and STANBIC (4.91%) to complete the top five on the volume chart.

While, FBNH appeared as the most traded stock in value terms, with 24.15 percent of the total value of trades on the exchange.

→ WEMABANK topped the gainers’ chart as its share price rose by 10.00 percent each, trailed by CHIPLC (9.26%), UACN (7.84%), UBA (4.32%), STERLNBANK (3.33%), FBNH (3.26%), ACCESS (2.70%), UCAP (1.66&), ZENITHBANK (0.41%) and 17 others.

On the contrary, 13 stocks declined in price led by UNILEVER with price depreciation of 6.32 percent to close at ₦13.35, as NGXGROUP (-4.31%), INTBREW (-2.63%), NEIMETH (-2.22%), FLOURMILL (-2.05%), WAPCO (-0.39%) and GUINNESS (-0.27%), also dipped in price. In summary, the market breadth closed largely positive, recording 25 gainers and 13 losers.

→ The sectorial performance shows that Banking, Insurance and Oil & Gas sectors grew by 1.76 percent, 0.83 percent and 0.22 percent, respectively, as the Consumer Goods (-0.51%) and Industrial Goods (-0.02%) sectors dipped as against the previous day’s position.