Thursday, December 2, 2021

    30 Stocks Sustain Equity Market Uptrend as Market Cap Rose by 0.90% on NGX Group Listing

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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.

    The Nigeria stock market sustained the positive sentiment to four successive trading sessions as the NGX-ASI claimed by 0.75 percent following the bullish reaction from investors on 30 stocks.

    Consequently, the All-Share Index increased by 308.17bps, representing a growth of 0.75 percent to close at 41,438.15. While the Market Capitalization gained ₦192.54bn, representing a surge of 0.90 percent to close at ₦21.43 trillion as NGX Group Plc listed 1.96 billion units by Introduction.

    → However, the market activities traded negatively following the 19.72 percent and 22.25 percent decline in the Total Volume and Value traded, respectively, as 728.96 million units of shares valued at ₦8.53 billion were transacted from 4,852 Deals.

    FBNH topped the traded stocks in terms of volume, accounting for 65.37 percent of the total volume of trades, maintaining the position as the most trading stock, followed by UNIVINSURE (5.44%), GTCO (4.55%), FIDELITYBK (3.00%), and TRANSCORP (2.85%) to complete the top five on the volume chart.

    Also, FBNH appeared as the most traded stock in value terms, with 69.50 percent of the total value of trades on the exchange.

    → SCOA led the gainers’ chart to emerge as the most profitable stock, with price appreciation of 9.20 percent, trailed by CUSTODIAN (8.96%), FBNH (8.09%), PRESCO (4.71%), GTCO (3.86%), BUACEMENT (3.05%), ETI (2.22%), NB (1.91%), UBA (0.61%), TOTAL (0.52%) and 20 others.

    On the contrary, 8 stocks declined in price led by CHAMS with price depreciation of 8.33 percent to close at ₦0.22, as WAPCO (-4.74%), AFRIPRUD (-3.62%), STERLNBANK (-3.18%), JAPAUGOLD (-2.08%), and FIDELITYBK (-1.79%) also follow suit. In conclusion, the market breadth closed significantly positive, recording 30 gainers and 8 losers.

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