Sunday, October 24, 2021

    Bull Regains Strength as NGX-ASI Surge by 0.06%

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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.

    Bull in the Nigeria equities market regains strength today as the NGX-ASI halts the three consecutive trading sessions of bearish sentiments, following the price appreciation in some highly capitalized stocks like GTCO, FLOURMILL, WAPCO and STANBIC, amongst others.

    As a result, the All-Share Index surged by 21.44 bps, representing a 0.06 percent increase to close at 38,874.13. While the Market Capitalization gained ₦11.17bn, representing a growth of 0.06 percent to close at ₦20.25 trillion.

    → However, the market activities extended the bearish sentiments as institutional investors continued to slur the equities market.

    In that regard, both the total volume and value traded lowered by 19.24 percent and 16.17 percent, respectively. A total of 125.80 million units of shares valued at ₦1.27 billion were traded in 2,990 deals.

    MBENEFIT outdid the traded stocks in terms of volume, accounting for 10.90 percent of the total volume of trades, followed by UCAP (9.11%), GTCO (7.91%), ZENITHBANK (7.31%), and TRANSCORP (6.02%) to complete the top five on the volume chart.

    While, GTCO remained the most traded stock in value terms for the three consecutive trading days, with 21.40 percent of the total value of trades on the exchange.

    → NAHCO topped the gainers’ chart with price appreciation of 10.00 percent, followed by PHARMDEKO (9.55%), CHAMS (4.76%), OANDO (3.66%), MBENEFIT (3.45%), GTCO (1.29%), FLOURMILL (1.21%), UBA (0.66%), WAPCO (0.22%), STANBIC (0.13%) and 6 others.

    Conversely, SOVRENINS led the decliners’ chart as its share price dipped by 4.17 percent to close at ₦0.23, as UPDC (-3.68%), HONYFLOUR (-2.05%), UCAP (-1.75%), AFRIPRUD (-0.77%), STERLNBANK (-0.67%) and ZENITHBANK (-0.22%) amongst others also declined in price.

    In conclusion, the market breadth closed positive, recording 16 gainers and 12 losers.

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