Stock Market Ends Week with More than N40bn Gain
The Nigerian stock market ends this week with a total of N40.42 billion gain, recording improved year to date returns as companies release third quarter earnings results.
Buying interest in some bellwether stock pushed equity capitalisation higher, this keep the Nigerian Exchange on track with a sustained positive sentiment.
Today’s stock market data shows that the Nigerian Exchange All-share index grew by 0.18 per cent, rising above 42,000 points marks after a long time.
In their market report, analysts at Atlass Portfolios Limited said the growth seen in the local bourse was impacted by the investor’s positive reaction towards the released Q3 earning reports by listed companies.
As a result of the buying rally, the All-Share Index increased by 77.46 basis points, representing a growth of 0.18 per cent to close at 42,038.60 points.
Meanwhile, Market capitalisation expanded by ₦40.42 billion to close at ₦21.94 trillion. It was noted that equity market activities traded bullishly with total volume and value rose significantly by 102.14 per cent and 212.85 per cent.
NGX data shows that a total of 1.13 billion units valued at ₦13.8 billion were transacted in 5,458 deals.
FBNH topped the traded stocks in terms of volume, accounting for 17.02 per cent of the total volume of trades, maintaining the position as the most trading stock.
It was followed by TRANSCORP (8.35%), WEMABANK (7.03%), AIICO (6.51%), and WAPCO (5.38%) to complete the top five on the volume chart.
Again, FBNH appeared as the most traded stock in value terms, with 21.17 per cent of the total value of trades on the exchange. On the profitability table, GUINNESS led in the gainers’ chart as its share prices appreciated by 10.00 per cent.
The ticker was trailed closely by CUSTODIAN (9.74%), TOTAL (9.45%), OKOMUOIL (7.66%), VITAFOAM (5.71%), WAPCO (5.47%), ETI (4.09%), UBA (1.18%), UCAP (1.10%), ZENITHBAK (0.80%), ACCESS (0.53%), GTCO (0.35%) and 20 others.
Overall, a total of 19 stocks depreciated in price led by REGALINS with a price decline of 9.76 per cent to close at ₦0.37, as DANGSUGAR (-5.56%), FBNH (-5.15%), NB (-2.30%), ARDOVA (-2.01%), OANDO (-0.98%), UACN (-0.88%), and STERLNBANK (-0.67%), also depreciated in price.
The market breadth closed positive, recording 32 gainers and 19 losers. # Stock Market Ends Week with More than N40bn Gain
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