Buying Interest in MTNN, UACN and Others Lifts Equity Market by +0.71%

Date:

The Nigerian equity market closed trading activities for today bullish, reversing the previous days losses, as market performance indicators (NGX-ASI and Market Capitalization) surged by +0.71%.

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The market YTD returns stood +11.57%. The market index (All-Share Index) was up by 337.07 basis points, representing an increase of +0.71% to close at 47,660.04.

The Market Capitalization also gained ₦183.59 bn, representing a growth of +0.71% to close at ₦25,959.14 trillion from ₦25,775.55 yesterday.

However, market activities were down, as the Total Volume and Total Value traded for the day declined by -11.52% and -19.97% respectively. Approximately 107.02 million units valued at ₦1,318.62 million were transacted in 3,227 deals.

FBNH was the most traded stock in terms of volume, accounting for 11.71% of the total volume of trades, followed by FIDELITYBK (9.58%), ZENITHBANK (7.51%), WEMABANK (5.47%), and STANBIC (4.73%) to complete the top 5 on the volume chart, while ZENITHBANK was the most traded stock in value terms, with 13.24% of the total value of trades on the exchange.

WEMABANK topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by UACN (9.95%), ACADEMY (9.45%), UCAP (8.10%), ABCTRANS (8.00%), and sixteen (16) others.

Nine (9) stocks depreciated, ROYALEX was the top losers, with a price depreciation of -10.00% to close at ₦0.63, as REDSTAREX (-9.25%), PRESTIGE (-8.51%), NB (-7.08%), RTBRESCOE (-6.90%), and JAPAULGOLD (-3.57%) also dipped in price. In that regard, the market breadth closed positive, recording 21 gainers and 9 losers.

Furthermore, the market sector performance closed negative, as two out of the five major market sectors declined, which includes the Consumer goods sector (- 0.79%), and the Insurance sector (-0.59%), while the Banking sector grew by +1.79%. The Oil & Gas and Industrial sectors closed unchanged.

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