Friday, October 22, 2021

    Nigerian stocks manage weak rebound after week of losses

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Nigerian stocks found resilience on Tuesday after one week of losses as gains in the financial sector equities lifted the benchmark index by 0.03 per cent.

    That underscored the place of the banking index in the day’s performance, considering that it advanced by 1.68 per cent while the remaining four sectorial indices either fell or closed flat.

    Tier 1 lender Zenith Bank, supported by a 10.4 per cent lift in its 2020 profit announced on Tuesday, contributed in no small measure to the appreciation of overall equity value alongside GTB, UBA, United Capital and Flour Mills

    Trade ended with a negative breadth with 25 losers recorded against 16 losers.

    The All Share Index (ASI) closed at 40,164.86 points, just as market capitalisation climbed to N21.014 trillion at the end of trade. Year to date, the index is down by 0.26 per cent.

    Aiico led the flock of gainers today, appreciating by 7.14 per cent to close at N1.20. Livestock added up 7.14 per cent to end today’s trade at N2.25. Flour Mills went up by 6.16 per cent to N31. Zenith Bank rose to N26, notching up 4.84 per cent. Cutix completed the top 5, climbing by 4.64% to N400

    Sunu Assurance led losers at Tuesday’s trade, declining by 9.88 per cent to close at N0.73. Lasaco shed 9.87 per cent to end trade at N1.37. Africa Prudential slipped to N5.95, losing 9.85 per cent. ABC Transport slumped to N0.32, recording 8.57 per cent depreciation. UPL closed at N1.18, going down by 8.53 per cent.

    In all, 337.955 million shares estimated at N3.845 billion were traded today in 5,232 deals.

    FBN Holdings was the most active stock with 64.588 million of its stocks worth N471.801 million traded in 252 deals. 52.673 million units of Zenith Bank shares priced at N1.341 billion exchanged hands in 794 transactions.

    Transcorp had 41.988 million shares valued at N38.119 million traded in 123 deals. United Capital traded 20.968 million shares estimated at N128.224 million in 375 transactions. UBA traded 18.147 million shares valued at N153.240 million in 216 deals.

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