Friday, January 28, 2022

    MTNN, 18 Others Sustain Equity Market Positve Sentiment as Market Cap Gain ₦ 217Bn

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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.

    Today, investors in the Nigerian equities market sustained the previous day’s positive sentiment amidst appetite on bellwether stocks in all the major sectors.

    The gain drove the market cap back to the ₦22 trillion mark. Consequently, the market index (All-Share Index) increased by 416.24 basis points, representing a growth of 0.99 percent to close at 42,435.16.

    While the Market Capitalization gained ₦217.20Bn, representing an increase of 0.99 percent to close at ₦22.14 trillion.

    → Similarly, the market activities remained bullish as the Total Volume and Value traded rose by 1.62 percent and 30.34 percent, respectively.

    649.77 million units valued at ₦7.20 billion were transacted in 3,757 Deals.

    FBNH topped as the traded stock in terms of volume, accounting for 68.08 percent of the total volume of trades, followed closely by STERLNBANK (9.93%), GTCO (3.18%), UBA (2.27%), and ACCESS (1.90%) to complete the top five on the volume chart.

    Also, FBNH emerged as the most traded stock in value terms, with 69.97 percent of the total value of trades on the exchange.

    → MEYER developed as the most profitable stock to lead the advancers’ chart with a price appreciation of 7.69 percent, trailed by DANGSUGAR (6.67%), UBA (5.30%), MTNN (4.49%), ETI (4.29%), ACCESS (3.45%), SEPLAT (2.46%), WAPCO (2.14%), VITAFOAM (1.75%), OANDO (0.67%), GTCO (0.62%) and eight (8) others.

    Contrarily, eleven (11) stocks depreciated, topped by CUTIX with price depreciation of 9.69 percent to close at ₦2.61, as MBENEFIT (-7.69%), NAHCO (-2.51%), FCMB (-1.02%), FBNH (-0.87%) and FIDELITYBK (-0.83%) also dipped in price.

    As a result, the market breadth closed positive, recording 19 gainers and 11 losers.

    → Subsequently, the sector performance was relatively positive, as all the five sectors appreciated, led by Banking (1.83%), trailed by Oil & Gas (1.14%), Consumer Goods (0.64%), Insurance (0.62%) and Industrial Goods (0.10%), respectively.

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