AIRTELAFRI, BUAFOODS & 20 Others Sustain Equities Market Rally with ₦243Billion Gain


Nigerian equities continued their rally on Wednesday with a gain of ₦243 billion amid bargain hunting for mid and large-cap stocks, amongst which are AIRTELAFRI, the newly listed company (BUAFOODS), SEPLAT and 19 others.

Accordingly, the market index (All-Share Index) rose by 450.52 basis points, representing a growth of 1.05 percent to close at 43,476.75.

While the Market Capitalization gained ₦242.75Bn, representing a surge of 1.05 percent to close at ₦23.43 trillion.

→ Similarly, the market activities traded positive as the Total Volume and Value traded climbed by 472.75 percent and 2,734.78 percent, respectively.

1.24 billion units valued at ₦42.97 billion were transacted in 4,032 Deals.

BUAFOODS led the traded stocks in terms of volume, accounting for 81.15 percent of the total volume of trades, followed closely by WEMABANK (2.02%), TRANSCORP (2.01%), NGXGROUP (1.17%), and UBA (1.12%) to complete the top five on the volume chart.

Also, BUAFOODS emerged as the most traded stock in value terms, with 94.34 percent of the total value of trades on the exchange.

→ AIRTELAFRI and BUAFOODS led on the gainers’ chart with maximum price appreciation of 10.00 percent each, trailed by OANDO (9.73%), NGXGROUP (2.56%), SEPLAT (2.31%), HONYFLOUR (1.18%), ACCESS (1.08%), WAPCO (0.62%), DANGSUGAR (0.29%) and thirteen (13) others.

On the other hand, seventeen (17) stocks depreciated, led by UNITYBBNK with price depreciation of 9.62 percent to close at ₦0.47 as UBN (-6.90%), DANGCEM (-2.72%), BUACEMENT (-2.71%), STANBIC (-2.63%) and STERLNBANK (-1.96%) and GTCO (-0.38%) also dipped in price.

Consequently, the market breadth closed positively, recording 22 gainers and 17 losers.

→ Meanwhile, the sector performance was relative negative, as three of the five sectors depreciated, led by the Industrial Goods (-2.42%), trailed by Banking (-0.50%), and Consumer Goods (-0.02%), while the Oil & Gas and Insurance sectors grew by 3.12% and 0.85%, respectively.