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    Stock Market Extends Positive Rally, Climb 0.12% to Begin New Week

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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.

    → On Monday, the Nigeria stock market resumed the new week on a positive note, extending the rally to five successive trading days.

    The growth was driven by the investors buy-interest in some bellwether stocks, such as FBNH, AIRTELAFRI, GTCO, and 25 others.

    Consequently, the All-Share Index rose by 51.48 bps, representing a growth of 0.12 percent to close at 41,814.74763.26. While the Market Capitalization gained ₦26.87 bn, representing a surge of 0.12 percent to close at ₦21.82 trillion.

    → Similarly, the market activities traded positively as the Total Volume and Value rose by 32.21 percent and 29.42 percent. A total of 674.50 million units valued at ₦7.59 billion were transacted in 5,485 Deals.

    FBNH topped the traded stocks in terms of volume, accounting for 51.97 percent of the total volume of trades, maintaining the position as the most trading stock, followed by ETI (6.77%), UNIVINSURE (5.03%), TRANSCORP (4.83%), and GTCO (3.18%) to complete the top five on the volume chart.

    Also, FBNH appeared as the most traded stock in value terms, with 57.24 percent of the total value of trades on the exchange.

    → PZ led in the gainers’ chart to emerge as the most profitable stock, with price appreciation of 9.32 percent, trailed FBNH (2.45%), ETI (1.99%), FCMB (1.61%), TOTAL (1.32%), AIRTELAFRI (1.30%), FIDELITYBK (1.11%), FLOURMILL (1.03%), GTCO (0.35%), and 19 others.

    On the contrary, 20 stocks declined in price led by ABBEYBDS with price depreciation of 9.47 percent to close at ₦0.86, as NGXGROUP (-6.36%), STANBIC (-4.88%), UCAP (-2.17%), ARDOVA (-1.32%), WAPCO (-1.20%) , UBA (-0.60%), ACCESS (-0.53%) and ZENITHBANK (-0.40%) also dipped in price.

    In conclusion, the market breadth closed positive, recording 28 gainers and 20 losers.

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