Nigeria stock exchange reverses downward trend, up N14bn

Date:

Lagos, April 8, 2021 Trading at the domestic equities market closed positive on Thursday with the market capitalisation increasing by N14 billion due to buying interest in tier 1 banks.

Thank you for reading this post, don't forget to subscribe!

The market capitalisation which opened at N20.286 trillion inched higher by N14 billion or 0.07 per cent to close at N20.300 trillion.

Also, the All-Share Index grew by 25.80 points or 0.07 per cent to close at 38,799.83 from 38,774.03 posted on Wednesday.

Accordingly, month-to-date and year-to-date losses moderated to 0.6 per cent and 3.7 per cent, respectively.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Okomu Oil, Zenith Bank, Guaranty Trust Bank, Oando and Access Bank.

Market breadth was positive with 13 stocks gainers against 12 losers.

Consolidated Hallmark Insurance dominated the gainers’ chart in percentage terms with a gain of 9.68 per cent to close at 34k per share.

Japaul Gold and Ventures followed with 9.43 per cent to close at 58k, while Oando was up by 5.16 per cent to close at N3.26 per share.

AIICO Insurance rose by five per cent to close at N1.26, while Zenith Bank appreciated by 3.81 per cent to close at N21.80 per share.

Conversely, Royal Exchange led the laggards’ chart in percentage terms with 7.69 per cent to close at 36k per share.
Jaiz Bank followed with a loss of 6.06 per cent to close at 62k per share.

Honeywell Flour Mill shed 5.04 per cent to close at N1.13, while Daar Communications and Linkage Assurance depreciated by 4.76 per cent each to close at 20k and 80k per share, respectively.

However, the total volume of trades decreased by 59.2 per cent as investors bought and sold 145.33 million shares valued at N1.58 billion in 3,525 deals.

This was in contrast with 356.46 million shares valued at N4.19 billion exchanged in 6,130 deals on Wednesday.

Transactions in the shares of FBN Holdings topped the activity chart with 21.85 million shares worth N157.18 million.
Guaranty Trust Bank followed with 20.50 million shares valued at N589.17 million, while Zenith Bank traded 17.58 million shares worth N379.88 million.

Access Bank sold 8.59 million shares valued at N68.89 million, while Japaul Gold and Ventures transacted 7.58 million shares valued at N4.34 million.

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

Share post:

Subscribe

Popular

More like this
Related

Naira closes at N1,597.24/$1 in the official market

March 19, 2024. Azonuchechi Chukwu. The official market observed a modest...

Nigerian Bourse declines, All Share Index drops by 0.40%

March 19, 2024. Azonuchechi Chukwu. It was a bearish session on...

Kaduna Governor Advocates for State Police Amidst Banditry Challenges

Kaduna State Governor, Uba Sani, emphasized the urgent need...

EFCC Retrieves 324 Houses for Kano Pensioners in Alleged N4.1 Billion Property Fraud

Yesterday, the Economic and Financial Crimes Commission (EFCC) handed...

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading