Stock Market Reverses Downturn, Spikes by 0.01%

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The Nigeria stock market halted the three sessions of negative trend as the market indicators spiked marginally by 0.01% following the investors’ positive sentiment in GTCO, ZENITHBANK, HONYFLOUR, and 12 other stocks. Consequently, All-Share Index rose by 7.19 points, representing a 0.01 percent growth, and closed at 51,563.73. While the Market Capitalization gained ₦11.98Bn to increase by 0.01 percent and closed at ₦27.81 trillion.

→ Similarly, the market activities were bullish, as the Total Volume and Value climbed by 5.94 percent and 22.07 percent, respectively, amid cautious trading. About 143.29 million units valued at ₦1.76 billion were transacted in 3,745 Deals. JAIZBANK emerged as the most traded stock in terms of volume, accounting for 29.39 percent of the total volume of trades, followed closely by GTCO (13.58%), STERLNBANK (6.57%), UBA (4.79%), and NAHCO (3.61%) to complete the top five on the volume chart. While, AIRTELAFRI emerged as the most traded stock in value terms, with 32.58 percent of the total value of trades on the exchange.

→ ACADEMY topped the advancers’ list with a price appreciation of 9.55 percent, trailed closely by HONYFLOUR (8.39%), TRANSCORP (2.40%), JBERGER (2.26%), ACCESSCORP (2.11%), CUTIX (1.29%), GTCO (0.49%), ZENITHBANK (0.46%) and seven (7) others. On the contrary, ten (10) stocks also depreciated, topped by RTBRISCOE with a price depreciation of 8.11 percent, to close at ₦0.34, as JAPAULGOLD (-3.45%), FBNH (-3.20%), UCAP (-0.78%), NGXGROUP (-0.67%) and UBA (-0.67%) also dipped in price. In that regard, the market breadth closed marginally positive, recording 15 gainers and 10 losers.

→ Conclusively, sectoral performance was bullish, as three of the five sectors closed positively compared to the previous session, led by Banking (0.50%), Consumer Goods (0.12%), and Insurance (0.002%), while the Insurance sector dipped by 0.11% leaving the Oil & Gas sector unchanged.