Sunday, January 23, 2022

    Equities Market Rebounds to Close the Week in Green

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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.

    On Friday, the Nigeria stock market rebounded by 0.46 percent to halt the three consecutive trading sessions of decline.

    Impacting the growth follows the investors buy-interest in AIRTELAFRI and 17 other stocks. Resultantly, the market index (All-Share Index) rose by 199.52 basis points, representing a growth of 0.46 percent to close at 43,308.29.

    While the Market Capitalization gained ₦104.11Bn, representing an increase of 0.46 percent to close at ₦22.60 trillion.

    → However, the market activities were mixed as the Total Volume traded increased by 14.73 percent while the Total Value traded depreciated by 15.15 percent, as against the previous session. A total of 305.32 million units valued at ₦3.58 billion were transacted in 4,450 Deals.

    Today, FCMB topped the traded stocks in terms of volume, accounting for 26.68 percent of the total volume of trades, followed closely by GTCO (9.72%), ACCESS (9.25%), HONYFLOUR (5.54%), and ZENITHBANK (4.33%) to complete the top five on the volume chart. GTCO appeared as the most traded stock in value terms, with 20.64 percent of the total value of trades on the exchange.

    → ABCTRANS and ROYALEX emerged as the most profitable stocks for the day, topping the gainers’ chart with a price appreciation of 10.00 percent each, followed by CHAMS (4.76%), AIRTELAFRI (3.83%), ARDOVA (3.03%), REDSTAREX (1.49%), LIVESTOCK (1.48%), UBN (1.05%), STERLNBANK (0.68%), GUINNESS (0.27%) and eight (8) others. On the contrary, 24 stocks remain depreciated in price topped by UPDCREIT with price depreciation of 9.82 percent to close at ₦5.05, as NB (-3.13%), HONYFLOUR (-2.22%), VITAFOAM (-1.83%), FLOURMILL (-1.67%), NGXGROUP (-1.21%), ACCESS (-1.10%), OANDO (-0.98%), AFRIPRUD (-0.78%), UBA (-0.61%) and ZENITHBANK (-0.41%) also dipped in price. Nevertheless, the market breadth closed negative, recording 18 gainers and 24 losers.

    → Conclusively, safe for the Insurance sector that grew by 0.64% to sustain the previous session gain, the Consumer Goods (-0.89%), Banking (-0.33%), Oil & Gas (-0.03%) and Industrial Goods (-0.01%) dipped compared to yesterday’s closing positions.

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