Equities Investors Gain N379bn as Zenith Bank, Cadbury Rally

Equities Investors Gain N379bn as Zenith Bank, Cadbury Rally

Equities investors gained about N379 billion as Nigerian Exchange rebounded with buying interest in Zenith Bank, Cadbury Nigeria among others. The local bourse closed today’s trading session on a positive note, as key market performance indicators advanced by 0.50%.

The bullish performance halted four days losing streaks in the equities market. The market witnessed renewed buying interest across major market sectors, particularly in medium and some large-cap stocks. Zenith Bank gained more than N39 billion in addition to other price movement.

Stockbrokers reported that market index or All-Share Index increased by 598.67 basis points today, representing a rise of 0.50% to close at 120,339.90.

Trading activities increased on the Exchange as the total volume and total value of all trades executed increased by 104.20% and 10.73% respectively.

In its market update, Atlass Portfolio Limited told investors that approximately 1,049.40 million units valued at ₦12,174.25 million were transacted across 21,964 deals.

In terms of volume, ROYALEX led the activity chart, accounting for 20.87% of the total volume of all trades executed in the local bourse, followed by JAPAULGOLD (16.61%), ELLAHLAKES (7.96%), WEMABANK (6.79%), and CHAMS (3.59%), rounding out the top five.

Ticker: WEMABANK emerged as the most traded stock in value terms, accounting for 8.78% of the total value of all trades consummated on the exchange.

CILEASING, ELLAHLAKES, NSLTECH, SMURFIT, THOMASWY, CUTIX, INTENEGINS, and OMATEK topped the advancers’ chart for today with a price appreciation of 10.00 percent each.

These top gainers were trailed by CAVERTON with (+9.98%) growth, MEYER (+9.95%), FTNCOCOA (+9.95%), HONYFLOUR (+9.94%), LEARNAFRCA (+9.92%) and forty-eight others.

The market also witnessed bargain hunting in ELLAHLAKES, NEIMETH, MAYBAKER, CAP, CADBURY, ZENITHBANK, and others.

On the other side, fifteen stocks depreciated, according to data obtained from the domestic bourse. DEAPCAP was the top loser, with a price depreciation of -9.09%. Other decliners include DANGSUGAR (-5.32%), OANDO (-4.73%), VFDGROUP (-4.11%), STANBIC (-2.35%), and FIDSON (-0.45%).

The stock market breadth closed largely positive, recording 61 gainers and 15 losers. The sectoral performance was positive as four out of the five major indices under Atlass Portfolio Limited coverage edged higher.

The Consumer goods sector appreciated by 1.78%, the Insurance sector advanced by 0.76%, the Industrial sector rose by 0.52%, and the Banking sector grew by 0.19%. The Oil & Gas sector receded by 0.45%. Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦378.98 billion, representing a growth of 0.50% compared to the previous session. #Equities Investors Gain N379bn as Zenith Bank, Cadbury Rally#

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