Saturday, January 29, 2022

    Amidst Bargain Hunting, Investors Sustain Equity Market Rally

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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 Thursday, investors in the Nigeria equities market maintained the positive rally amidst bargain-hunting in medium and large-cap stocks.

    The rally follows the sustained price appreciation in BUAFOODS and 23 others.

    Accordingly, the market index (All-Share Index) rose by 131.19 basis points, representing a growth of 0.30 percent to close at 43,607.94.

    While the Market Capitalization gained ₦70.69Bn, representing a surge of 0.30 percent to close at ₦23.50 trillion.

    → Meanwhile, the market activities traded bearishly as the Total Volume and Value traded plunged by 85.93 percent and 95.04 percent, respectively.

    174.61 million units valued at ₦2.13 billion were transacted in 3,715 Deals.

    In the meantime, FBNH led the traded stocks in terms of volume, accounting for 15.52 percent of the total volume of trades, followed closely by UBA (12.61%), TRANSCORP (6.87%), BUAFOODS (6.47%), and ZENITHBANK (5.88%) to complete the top five on the volume chart.

    While BUAFOODS emerged as the most traded stock in value terms, with 25.54 percent of the total value of trades on the exchange.

    → BUAFOODS led on the gainers’ chart with maximum price appreciation of 10.00 percent each, trailed by UACN (5.56%), UBN (3.70%), WAPCO (3.11%), UCAP (2.51%), NGXGROUP (2.50%), FBNH (1.77%), ACCESS (1.60%), UBA (0.62%), HONYFLOUR (0.29%), ZENITHBANK (0.20%) and thirteen (13) others.

    Conversely, thirteen (17) stocks declined in price, led by SUNUASSUR with price depreciation of 9.76 percent to close at ₦0.37 as UNILEVER (-3.45%), NEIMETH (-2.22%), BUACEMENT (-1.43%), WEMABANK(-1.27%), and TRANSCORP (-1.02%) also dipped in price.

    Consequently, the market breadth closed positively, recording 23 gainers and 13 losers.

    → Meanwhile, the sector performance was largely negative, as the Banking sector was the only sector with 0.44% growth while the other four sectors, led by Insurance (-1.35%), Oil & Gas (-0.90%), Industrial Goods (-0.39%) and Consumer Goods (-0.12%) decline as against the previous session.

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