Nigeria’s Equity Market Halts Downtrend as Investors Gained ₦138Billion

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Investors at the Nigeria equity market halt the three consecutive days downtrend with a gain of ₦138 billion from 27 stocks.

Consequently, the market index (All-Share Index) rose by 256.23 basis points, representing an upturn of 0.58 percent to close at 44,655.89.

While the Market Capitalization gained ₦138.05Bn, representing an increase of 0.58 percent to close at ₦24.06 trillion.

→ In the meantime, the market activities were mixed as the Total Volume rose by 9.76 percent while the Total Value traded plunged by 28.65 percent as against the previous session.

235.23 million units valued at ₦1.92 billion were transacted in 4,151 Deals.

Meanwhile, TRANSCORP maintained the led as the most traded stock in terms of volume, accounting for 16.20 percent of the total volume of trades, followed closely by GTCO (7.96%), JAIZBANK (6.37%), ETI (6.16%) and FBNH (5.71%) to complete the top five on the volume chart.

While GTCO emerged as the most traded stock in value terms, with 24.84 percent of the total value of trades on the exchange.

→ SKYAVN topped the gainers’ chart with price appreciation of 10.00 percent, trailed by DANGSUGAR (7.35%), ETERNA (5.83%), BUAFOODS (4.21%), ETI (3.45%), ACCESS (2.11%), BUACEMENT (2.00%), CUSTODIAN (1.40%), GTCO (1.39%), NGXGROUP (1.29%), ZENITHBANK (0.78%), FLOURMILL (0.18%) and fifteen (15) others.

On the contrary, thirteen (13) stocks declined in price, led by NEM with price depreciation of 8.33 percent to close at ₦3.63 as WAPIC (-3.92%), WEMABANK (-2.25%), TRANSCORP (-1.85%), CHIPLC (-1.43%), UBN (-0.88%) and WAPCO (-0.39%) also dipped in price.

Resultantly, the market breadth closed positive, recording 27 gainers and 13 losers.

→ In the meantime, the market sector performance was broadly bullish as the four of the five sectors led by Banking (0.98%), Industrial Goods (0.79%), Consumer Goods (0.69%) and Oil & Gas (0.25%) grew as against the previous session.

While the Insurance sector dipped by 1.61%.