Sunday, October 24, 2021

    Equity Investors Gain ₦17 billion as MPC Hold Rate

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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.

    → Today, Investors at the Lagos Custom Street reversed the previous day’s negative sentiment with a gain of ₦17 billion as the market reacted positively to the MPC decision to hold the MPR and its parameters. The growth in the market performance indicators (NGX-ASI and Market Capitalization) was impacted by the price appreciation in medium and small capitalized stocks. Consequently, the All-Share Index surge by 32.56 bps, representing a 0.08 percent increase to close at 38,943.87. While the Market Capitalization gained ₦16.59bn, meaning a downward of 0.08 percent to close at ₦20.29 trillion.

    → Similarly, the market activities traded bullishly, as both the total volume and value traded rose by 19.12 percent and 36.34 percent, respectively. A total of 155.10 million units of shares valued at ₦1.95 billion were traded in 2,906 deals. UNIVINSURE outdid the traded stocks in terms of volume, accounting for 12.30 percent of the total volume of trades, followed by UBA (7.13%), WAPCO (6.60%), ZENITHBANK (6.42%), and UCAP (6.33%) to complete the top five on the volume chart. While, FLOURMILL emerged as the most traded stock in value terms, with 13.69 percent of the total value of trades on the exchange.

    → CHIPLC led the advancers table with price appreciation of 8.33 percent, trailed closely by REGALINS (7.14%), UCAP (6.59%), GTCO (3.15%), HONYFLOUR (2.30%), OANDO (1.76%), ZENITHBANK (0.63%), FLOURMILL (0.17%) and 10 others. Conversely, ETERNA topped the decliners chart as its share price declined by 6.56 percent to close at ₦1.14, as WAPCO (-2.27%), VITAFOAM (-1.15%), CUTIX (-1.02%), and STERLNBANK (-0.67%) amongst others also declined in price. In conclusion, the market breadth closed positively, recording 18 gainers and 9 losers.

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