Bull Regain Strength as Investors’ Wealth Peaks by 0.43%


→ Bull in the Nigeria stock market regained strength after the previous day’s significant weakness as the market indicators rose by 0.43 percent. The growth was driven by investors positive sentiment in 39 stocks. In that regard, the market index (All-Share Index) peaked by 195.82 basis points, representing an increase of 0.43 percent to close at 46,205.05. While the Market Capitalization gained ₦105.52Bn, representing a spike of 0.43 percent to close at ₦24.90 trillion.

→ Similarly, the market activities were bullish as the Total Volume and Value traded surged by 12.17 percent and 82.20 percent, respectively. About 313.45 million units valued at ₦5.03 billion were transacted in 5,067 Deals. FBNH led the most traded stock in terms of volume, accounting for 12.97 percent of the total volume of trades, followed closely by TRANSCORP (9.86%), ZENITHBANK (8.53%), GTCO (6.68%) and ACCESS (6.07%) to complete the top five on the volume chart. While MTNN emerged as the most traded stock in value terms, with 25.69 percent of the total value of trades on the exchange.

→ CORNERST led the advancers’ chart with maximum price appreciation of 10.00 percent, followed by VITAFOAM (9.91%), ETI (9.62%), FBNH (4.82%), GUINNESS (2.89%), NEIMETH (2.78%), UBA (1.81%), ACCESS (1.55%), NGXGROUP (1.20%), ZENITHBANK (0.98%), DANGSUGAR (0.87%), GTCO (0.59%), SEPLAT (0.51%), HONYFLOUR (0.29%) and twenty-five (25) others. Conversely, seven (7) stocks depreciated, led by UPL with price depreciation of 9.86 percent to close at ₦2.65 as CHIPLC (-7.69%), ETERNA (-1.48%), and CADBURY (-1.14%) also dipped in price. As a result, the market breadth closed largely positive, recording 39 gainers and 7 losers.

→ Consequently, the market sector performance was broadly positive, led by Banking (2.30%), Oil & Gas (2.22%), Insurance (1.61%) and Consumer Goods (0.81%), respectively. While only the Industrial Goods dipped marginally by 0.01%, as against the previous session.