Nigerian Equities Close Week Higher as Investors Earn ₦36 Billion

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The Nigerian equity market recorded a fourth consecutive trading session of gain to close the week on a high note.

The positive sentiment follows the investors’ appetite in medium and large capitalized stocks such as SEPLAT, NB, GTCO, amongst others.

Consequently, the market index (All-Share Index) rose by 66.83 basis points, representing an uptrend of 0.15 percent to close at 45,957.35.

While the Market Capitalization gained ₦36.01Bn, representing an increase of 0.15 percent to close at ₦24.76 trillion.

→ Meanwhile, the market activities were broadly bearish as the Total Volume and Value traded dipped by 67.76 percent and 92.38 percent, respectively.

281.59 million units valued at ₦2.41 billion were transacted in 3,739 Deals.

TRANSCORP led the most traded stock in terms of volume, accounting for 12.67 percent of the total volume of trades, followed closely by COURTVILLE (11.29%), SOVERNINS (9.36%), ACCESS (7.88%) and FBNH (6.53%) to complete the top five on the volume chart.

While, SEPLAT emerged as the most traded stock in value terms, with 22.32 percent of the total value of trades on the exchange.

→ NNFM sustained its position to top the gainers’ chart with price appreciation of 9.72 percent, trailed by VITAFOAM (5.46%), SEPLAT (4.86%), NEIMETH (3.13%), NB (1.48%), GTCO (1.18%), ETI (1.12%), NGXGROUP (0.99%), FLOURMILL (0.88%), AFRIPRUD (0.76%), OANDO (0.21%) and ten (10) others.

Conversely, fourteen (14) stocks plunged in price, led by REGALINS with price depreciation of 4.55 percent to close at ₦0.42 as HONYFLOUR (-3.03%), CUSTODIAN (-2.76%), FIDELITYBK (-1.48%), UCAP (-1.33%), ACCESS (-0.15%), STANBIC (-0.28%) and ZENITHBANK (-0.19%) also dipped in price.

As a result, the market breadth closed positive, recording 21 gainers and 14 losers.

→ Conclusively, the market sector performance was broadly positive as the three of the five sectors led by Oil & Gas (2.55%), Insurance (0.43%) and Consumer Good (0.33%) grew as against the previous session.

While the Banking sectors dipped by 0.11%, leaving the Industrial Goods sector Unchanged