Friday, October 22, 2021

    Stock Market Extends Bullish Run to Six Successive Sessions

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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.

    With an uptick of 0.16 percent in market indicators, the Nigeria equity market on Thursday extended its bullish run to six consecutive trading sessions.

    The bullish sentiment was driven by the existing positive drive on FBNH and the expected interim dividend from PRECO, amongst others.

    Resultantly, the All-Share Index grew by 63.95 bps, representing a 0.16 percent increase to close at 40,829.15.

    While the Market Capitalization gained ₦33.32 bn, representing a growth of 0.16 percent to close at ₦21.28 trillion.

    → Harmoniously, the market activities traded bullishly, as the Total Volume and Value traded rose by 102.75 percent and 203.95 percent, respectively.

    A total of 812.30 million units of shares valued at ₦10.58 billion were traded in 4,863 Deals.

    In that regard, FBNH outdid the traded stocks in terms of volume, accounting for 27.138.914 percent of the total volume of trades, maintaining the position as the most trading stock, followed by FIDELITYBK (6.07%), WEMABANK (4.47%), ETI (4.43%), and TRANSCORP (4.06%) to complete the top five on the volume chart.

    Also, FBNH appeared as the most traded stock in value terms, with 44.37 percent of the total value of trades on the exchange.

    → At the profitability table, UPL topped the advancers’ chart with price appreciation of 9.92 percent, trailed by PRESCO (5.92%), ETI (3.45%), FBNH (3.09%), OKOMUOIL (2.39%), UBA (1.94%), WAPCO (1.52%), ACCESS (1.08%), ZENITHBANK (0.42%) and 15 others.

    Conversely, BOCGAS led the decliners’ chart as its share price receded by 9.87 percent to close at ₦10.5, as MANSARD (-5.22%), TRANSCORP (-3.09%), UACN (-2.86%), UCAP (-2.14%), UBN (-2.00%), HONYFLOUR (-1.33%), CAP (-0.77%) and NEM (-0.52%) amongst others also declined in price.

    In conclusion, the market breadth closed positively, recording 24 gainers and 20 losers.

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