Saturday, January 29, 2022

    Investors Remain Bullish as Nigeria Stocks Sustain Uptrend

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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.

    Investors on Nigeria Custom Street remain bullish on the Nigeria stocks as the market indicators sustained an uptrend for the first four days in 2022.

    The uptrend was impacted following the investors buy sentiment in all the market major indices.

    Accordingly, the market index (All-Share Index) rose by 246.48 basis points, representing a growth of 0.57 percent to close at 43,854.42.

    While the Market Capitalization gained ₦130.75Bn, representing a surge of 0.56 percent to close at ₦23.63 trillion as Studio Press Nigeria Plc and Union Diagnostic Clinical Services Plc delisted from the Nigerian Exchange Limited.

    → Similarly, the market activities traded positively as the Total Volume and Value traded jumped by 126.30 percent and 481.35 percent, respectively.

    395.15 million units valued at ₦12.40 billion were transacted in 3,923 Deals.

    In the meantime, BUAFOODS led the traded stocks in terms of volume, accounting for 51.84 percent of the total volume of trades, followed closely by GTCO (6.51%), CHAMS (5.78%), WEMABANK (4.07%), and TRANSCORP (3.49%) to complete the top five on the volume chart.

    Also, BUAFOODS emerged as the most traded stock in value terms, with 81.17 percent of the total value of trades on the exchange.

    → On the profitability chart, CORNERST and MEYER led on the gainers’ chart with maximum price appreciation of 10.00 percent each, trailed by BUAFOODS (9.92%), JAPAULGOLD (9.76%), NEIMETH (6.82%), WAPCO (3.61%), NGXGROUP (3.41%), FBNH (3.04%), OANDO (3.04%), GUINNESS (2.31%), TRANSCORP (1.03%), CAP (0.26%), ZENITHBANK (0.20%) and seventeen (17) others.

    Conversely, nine (9) stocks declined in price, led by CHIPLC with price depreciation of 9.59 percent to close at ₦0.66 as JBERGER (-2.46%), AFRIPRUD (-1.56%), UBA (-1.23%), and GTCO (-0.39%) also dipped in price. Consequently, the market breadth closed positively, recording 30 gainers and 9 losers.

    → Meanwhile, the sector performance was positive, as all the sectors led by Oil & Gas (0.98%), Banking (0.44%), Industrial Goods (0.26%), Consumer Goods (0.19%) and Insurance (0.01%), respectively grew as against the last session.

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