Tuesday, October 26, 2021

    Investors Grow Wealth by ₦340Bn in Five-Star Week

    Must read

    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.

    Investors’ wealth in the Nigeria stock market grew by ₦340 billion in a five-star week of positive sentiment.

    The growth follows the bullish sentiment on FBNH, which largely impacted the Banking sector and the Airtel Africa Plc share buy-back notice.

    Consequently, the All-Share Index grew by 647.19 basis points, representing an upsurge of 1.61% to close at 40,868.36.

    While the Market Capitalization gained ₦340.29 billion, representing a growth of 1.62%, to close at ₦21.30 trillion following the additional listing of 5.08 billion ordinary shares of 50k each of Jaiz Bank Plc at ₦0.65 per share.

    In that regard, investors witnessed capital gain in 42 listed stocks, among which are; FBNH, which emerged as the best performing stock of the week with 21.74% growth, followed by ETI with 16.67% growth, while LIVESTOCK,

    AIRTELAFRI, PRESCO, UBA, ZENITHBANK, ACCESS, WAPCO and GTCO grew by 9.68%w/w, 6.29%w/w, 5.92%w/w, 5.30%w/w, 4.48%w/w, 2.73%w/w, 1.97%w/w and 1.96%w/w, respectively.

    On the contrary, CORNERST shed 12.07%w/w to top the decliners’ table, trailed by WEMABANK (-6.25%w/w), PZ (- 6.09%w/w), NEIMETH (-4.57%w/w), ARDOVA (-2.58%w/w), CUTIX (-2.02%w/w), FLOURMILL (-2.01%w/w), NAHCO (- 1.94%w/w) and CAP (-0.77%w/w), as 26 stocks depreciated during the week.

    Accordingly, three of the five major sectors in the market experienced bullish sentiment, led by Banking with 4.53%w/w growth, followed by Oil & Gas – 0.24%w/w, and Industrial Goods – 0.11%w/w sectors, while the Insurance and Consumer Goods sector declined by 1.51%w/w and 0.51%w/w, respectively.

    Meanwhile, a total of 2.18 billion shares valued at ₦21.96 billion in 22,438 deals were traded in the week, compared to 2.19 billion shares worth ₦16.18 billion in 14,377 deals traded in the prior week.

    Following the seven consecutive price appreciations, we expect mixed sentiment but more of profit taking from investors in the coming week.

    - Advertisement -spot_img

    More articles

    - Advertisement -spot_img

    Latest article

    WP to LinkedIn Auto Publish Powered By : XYZScripts.com