Local Bourse Sustains Bullish Run Amid Gains in 18 Stocks

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On Monday, the Nigeria local bourse opened the new week on a positive note, sustaining the bullish run to five successive sessions amidst gains in ETI, FBNH, MTNN, and 15 others. The growth also pushed the investors’ wealth above the ₦28 trillion mark. Consequently, the All-Share Index spiked by 257.24 points, representing a 0.50 percent growth, and closed at 51,962.85. While the Market Capitalization gained ₦138.68Bn to increase by 0.50 percent and closed at ₦28.01 trillion.

→ Likewise, the market activities were bullish, as the Total Volume and Value rose by 70.74 percent and 41.82 percent, respectively, showing a sign of investors’ return to the market. Approximately 266.51 million units valued at ₦2.60 billion were transacted in 5,050 Deals. TRANSCORP emerged as the most traded stock in terms of volume, accounting for 15.76 percent of the total volume of trades, followed closely by ACCESSCORP (14.51%), OANDO (13.74%), UBA (10.21%), and FBNH (6.62%) to complete the top five on the volume chart. While SEPLAT appeared as the most traded stock in value terms, with 16.44 percent of the total value of trades on the exchange.

→ ETI topped the advancers’ list with a price appreciation of 9.79 percent, trailed closely by OKOMUOIL (8.53%), OANDO (3.51%), FBNH (3.32%), MTNN (2.13%), UCAP (1.57%), ZENITHBANK (0.23%) and eleven (11) others. On the contrary, sixteen (16) stocks also depreciated, topped by PZ with a price depreciation of 10.00 percent, to close at ₦11.25, as ETERNA (-9.33%), NB (-3.42%), UBN (-2.50%), FLOURMILL (-1.54%), ACCESSCORP (-1.05%), UBA (-0.67%) and GTCO (-0.24%) also dipped in price. As a result, the market breadth closed positive, recording 18 gainers and 16 losers.

→ Meanwhile, sectoral performance was bullish, as three of the five sectors closed positively compared to the previous session, led by Insurance (1.50%), Banking (0.51%), and Oil & Gas (0.12%). While the R Goods sector tanked by 0.56%, leaving the Industrial Goods sector unchanged.