As Positive Sentiment Continues, The Stock Market Gains N43bn

The Nigerian stocks market had a profitable trading session yesterday, expanding the profitable streak to four straight sessions.

Investors’ bargain-hunting mentality was seen across all the major industries, highlighted by Insurance and Banking.

In a nutshell, the All-Share Index (ASI) grew by 83.27 points, which equates to 0.22% growth. Similarly, the market capitalization total added N43 billion to settle at N20.070 trillion.

Prices increased for large and medium-capitalized equities, including Guaranty Trust Bank, Dangote Sugar Refinery, Lafarge, Cutix, and Custodian Investment.

Analysts at Afrinvest Limited expect the market to remain buoyant in the run-up to the first half (H1) of 2021 results.

Additionally, 22 stocks rose, as opposed to 13 losing ones. The price rose 10% to settle at N3.63 per share. John Holt closed with a gain of 9.84%, while UACN Property Development Company increased by 9.71% to end at N1.13 per share.

Wapic Insurance gained 5.36% and Tripple Gee & Company improved by 8.33% closing at 91 kobo per share. Meanwhile, BOC Gases trailed the losers’ list by 9.94% to settle at N7.70 per share. Berger Paints Nigeria fell 9.64% before closing at N8.90, while Courteville Business Solutions sank 4.55% to settle at 21 kobo per share.

Japaul Gold shed 3.92% and Ventures shed 3.92% to settle at 49 kobo, while Unity Bank depreciated by 3.51% a share.

Meanwhile, trade volume rose by 2.5% to 296.099 million units, valued at N2.562 billion and traded in 4,507 deals.

34.838 million FBNH shares topped the trading chart with N265.090 million in value. Access Bank exchanged 27.729 million shares, which resulted in a total value of N689.155 million.