Stock Market Booms On Healthy Buying Interest

Stock Market Booms On Healthy Buying Interest

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Stock Market Booms On Healthy Buying Interest

The Nigerian Exchange rises by N153 billion midweek as trading activities in the local bourse sustained positive momentum. Consequently, the All-Share Index (ASI) ended 0.56 per cent stronger to close at 51,377.21 points from 51,091.75 recorded on Tuesday.

Today’s performance was supported by a 1.9% gain in DANGCEM and 6.9% in BUAFOODS. The positive market drive seen lifted the month-to-date loss moderated to -3.0%, while the year-to-date returns increased to 20.3%.

The total volume traded increased by 37.4% to 229.37 million units, valued at N3.20 billion, and exchanged in 4,536 deals. OANDO was the most traded stock by volume at 34.46 million units, while MTNN was the most traded stock by value at N565.62 million.

The Nigerian stock market gain pushed equities market capitalisation higher, rising by N153 billion to close at N27.697 trillion from N27.544 posted on Tuesday.

The performance was primarily driven by sustained rebounds in large capitalised stocks such as First Bank of Nigeria (FBNH), Stanbic Bank, Bua Foods, Dangote Cement, and MTN Nigeria, among others. As a result, the ASI Year-to-Date increased to 20.28 per cent. Market breadth closed positive as 17 stocks appreciated while 16 declined.

EllahLake recorded the highest price gain of 10 per cent to close at N4.40 per share. Presco followed with a gain of 9.71 per cent to close at N183 per share, while FBNH rose by 9.52 per cent to close at N9.20 per share. Livestock rose by 9.09 per cent to close at N1.44, while Courtville Business Solutions gained 8.70 per cent to close at 50k per share.

On the other hand, Northern Nigerian Flour Mill (NNFM) led the losers’ chart by 9.91 per cent to close at N9.55 per share. JohnHolts depreciated by 9.86 per cent to close at 64k and CWG dropped by 9.09 per cent to close at 80k per share. READ: Naira Trades Healthy at Official Window, FX Reserve Falls

ChiPlc followed with a decline of 8.82 per cent to close at 62k per share, while Glaxosmith lost 6.25 per cent to close at N6 per share. Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 16.68 per cent. A total of 229.37 million shares valued at N3.2 billion were exchanged in 4,536 deals.

Transactions in the shares of Oando topped the volume chart with 34.64 million shares valued at N184.98 million. First City Monument Bank (FCMB) followed with 26.2 million shares worth N91.68 million, while United Bank for Africa (UBA) traded 26.02 million shares valued at N194.05 million.

Accesscorp traded 23.77 million shares valued at N216.29 million, while Guaranty Trust Holding Company (GTCO) transacted 15.83 million shares valued at N332.39 million. Performance across sectors was broadly negative, as the Banking (-0.6%), Insurance (-0.4%), Industrial Goods (-0.3%) and Oil & Gas (-0.2%) indices declined, while the Consumer Goods (+0.1%) index was the sole gainer. # Stock Market Booms On Healthy Buying Interest
The post Stock Market Booms On Healthy Buying Interest appeared first on MarketForces Africa.

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