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    Stock Market Rebounds by 0.07% gain as Q2’2021 GDP grew by 5.01%

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    The Nigeria stock market on Thursday rebounds by a 0.07 percent increase, reversing the previous day’s decline in market indicators as the Nigeria Q4’2021 GDP expanded by 5.01%y/y.

    The positive sentiment represents the fourth consecutive trading session of seesaw movement in the equity market.

    The price appreciation in HONYFLOUR, LIVESTOCK, CHIPLC, AFRIPRUD, FBNH, ACCESS, ETI, and PRESCO ensured the NGX-ASI and market capitalization soared by 0.07 percent and 0.07 percent, respectively. Similarly, the market breadth closed positive, recording 27 gainers as against 12 losers.

    → Meanwhile, market activities closed with the volume of stocks traded on the exchange depreciating y by 6.05 percent, while the value of stocks traded on the exchange appreciating by 69.81 percent. A total of 186.33 million units of shares valued at ₦1.79 billion were traded in 3,595 deals.

    SOVRENINS led the volume chart, accounting for 10.56 percent of the total volume of trades, followed by WAPCO (9.36%), HONYFLOUR (8.07%), MBENEFIT (7.86%), and UPDC (5.58%) to complete the top five on the volume chart.

    MTNN led the value chart with 27.69 percent of the total value of trade on the exchange.

    → ETERNA topped the gainers’ list, as its share prices edged upward by 9.97 percent, while IKEJAHOTEL led the losers’ table with its share price declining by 10.00 percent to close at ₦1.26 after opening the day at ₦1.40.

    →Consequently, we expect the positive sentiment to prevail in the equity market tomorrow, as yield in the last NTB auction declined to 6.8% on 364-days tenor note.

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