Positive Sentiment Persist as Investors’ Wealth Rose by ₦302 Billion


The Nigeria local bourse sustained the previous session positive sentiment by 1.06 percent gains, despite the recent increase in the Monetary Policy Rate (MPR) to 13% by the MPC and the uptick in the recently auctioned T.Bill rate (364-day tenor to 6.49% from 4.7%). The growth in the equity market was driven by the price appreciation in bellwether stocks, such as, WAPCO, GUINNESS, MTNN and 24 others. As a result, the All-Share Index rose by 559.91 basis points, representing a 1.06 percent growth, to closed at 53,151.32. While the Market Capitalization gained ₦301.86Bn to increase by 1.06 percent and closed at ₦28.65 trillion.

→ However, the market activities were mixed, as the Total Volume dipped by 30.40 percent while the Total Value spiked by 20.81 percent. Approximately 266.18 million units valued at ₦5.12 billion were transacted in 5,501 Deals. TRANSCORP emerged as the most traded stock in terms of volume, accounting for 17.91 percent of the total volume of trades, followed closely by ACCESSCORP (9.52%), GTCO (7.76%), JAIZBANK (6.16%), and UNIVINSURE (6.14%) to complete the top five on the volume chart. While MTNN appeared as the most traded stock in value terms, with 36.77 percent of the total value of trades on the exchange.

→ IMG topped the advancers’ list with a price appreciation of 10.00 percent each, trailed closely by WAPCO (6.23%), GUINNESS (5.10%), MTNN (4.35%), UBA (3.27%), GTCO (2.68%), ETI (1.28%), ZENITHBANK (1.06%), ACCESSCORP (1.03%) and eighteen (18) others. On the flip side, eleven (11) stocks depreciated, topped by NPFMCRFBK with a price depreciation of 9.90 percent to close at ₦1.82 as UACN (-9.69%), FLOURMILL (-2.86%), CUSTODIAN (-0.70%), UCAP (-0.39%) and WEMABANK (-0.30%) also dipped in price. In that regard, the market breadth was largely positive, recording 27 gainers and 11 losers.

→ Conclusively, sectoral performance was bullish, as four of the five sectors closed positively compared to the previous session, led by the Banking (1.22%), Consumer Goods (0.93%), the Industrial Goods and Insurance sectors closed at 0.42%, each. While the Oil & Gas sector shed 0.30%.

Naija247news Media Nigeria
Naija247news Media Nigeriahttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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