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    Bellwethers Sustain Equity Market Rally, Gain 1.10%

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    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 on the Nigeria stock market sustained the previous day’s positive sentiment as the market performance indicators rose by 1.10 percent.

    The growth was impacted by renewed interest in bellwether stocks such as AIRTELAFRI, MTNN, amongst others.

    As a result, the All-Share Index rose by 454.40 bps, representing a growth of 1.10 percent to close at 41,704.11.

    While the Market Capitalization gained ₦237.13 bn, representing a surge of 1.10 percent to close at ₦21.76 trillion.

    → However, the market activities traded bearishly following the 56.72 percent and 33.43 percent growth in the Total Volume and Value traded, respectively, as 216.19 million units of shares valued at ₦3.38 billion were transacted from 4,272 Deals.

    FBNH topped the traded stocks in terms of volume, accounting for 24.08 percent of the total volume of trades, maintaining the position as the most trading stock, followed by ETI (9.29%), TRANSCORP (6.79%), ACCESS (6.05%), and FIDELITYBK (5.75%) to complete the top five on the volume chart.

    Also, FBNH appeared as the most traded stock in value terms, with 21.36 percent of the total value of trades on the exchange.

    → CUTIX led the gainers’ chart to emerge as the most profitable stock, with price appreciation of 10.00 percent, trailed by NGXGROUP (9.79%), NB (7.41%), DANGSUGAR (2.27%), AIRTELAFRI (1.32%), MTNN (1.16%), UBN (1.00%), GUINNESS (0.52%), UACN (0.46%) and 14 others.

    On the contrary, 18 stocks declined in price led by NEIMETH with price depreciation of 4.86 percent to close at ₦1.76, as NAHCO(-3.61%), UACP (-3.16%), GTCO (-2.03%), AFRIPRUD (-1.44%), and FBNH (-0.82%) also follow suit.

    In conclusion, the market breadth closed positive, recording 23 gainers and 18 losers.

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