Nigeria Stocks Remain Upbeat, Leap by 0.34%


The Nigeria stock market remained upbeat for the fourth consecutive trading session as the market performance indicators leapt by 0.34 percent following the sustained bargain-hunting in 31 stocks.

Consequently, the All-Share Index rose by 162.28 basis points representing a 0.34 percent growth, closed at 47,367.31.

While the Market Capitalization gained ₦87.49Bn, representing an upsurge of 0.34 percent to close at ₦25.54 trillion.

→ Similarly, the market activities were bullish, as the Total Volume and Value rose by 59.68 percent and 117.27 percent, respectively. Approximately 391.89 million units valued at ₦9.95 billion were transacted in 5,419 Deals.

GTCO remained the most traded stock in terms of volume, accounting for 16.81 percent of the total volume of trades, followed closely by ZENITHBANK (11.21%), UBA (7.36%), FIDELITYBK (7.27%), and MTNN (5.81%) to complete the top five on the volume chart. While MTNN emerged as the most traded stock in value terms, with 48.51 percent of the total value of trades on the exchange.

→ MEYER topped the advancers’ chart with a price appreciation of 9.56 percent, trailed by UBN (6.56%), OKOMUOIL (5.63%), UACN (3.60%), GTOC (3.17%), ETI (2.58%), UBA (2.50%), FLOURMILL (1.64%), NB (0.92%), MTNN (0.90%), HONYFLOUR (0.56%), OANDO (0.21%) and nineteen (19) others.

Conversely, sixteen (16) stocks depreciated, led by SUNUASSUR with a price decline of 7.69 percent to close at ₦0.36, as UCAP (-3.97%), REDSTAREX (-3.17%), PZ (-3.00%), TRANSCORP (-2.91%), WEMABANK (-1.25%), ZENITHBANK (-1.18%), ACCESSCORP (-0.48%) and PRESCO (-0.08%) also dipped in price. In that regard, the market breadth was positive, recording 31 gainers and 16 losers.

→ Subsequently, sectoral performance was bullish, as four of the five major sectors closed positively compared to the previous session, led by Banking (0.56%), Consumer Goods (0.03%), Oil & Gas (0.03%), and Industrial Goods (0.004%). While the Insurance sector plummeted by 0.18 percent.