Friday, October 7, 2022

Renewed investors confidence boosts market rebound with N164 billion gain

In all, investors bought and sold a total of 209.19 million shares worth N2.01 billion in 3,240 deals, representing an increase 1.82 per cent.

• July 2, 2021
Stock Market
Nigerian Stock Market trade floor (Photo Credit: Bloomberg)

The Nigerian Exchange (NGX) key market indices rebounded by 0.83 per cent on Friday on renewed investors confidence.

Specifically, the All-Share Index inched higher by 313.45 points or 0.83 per cent to close at 38,212.01 against 37,898.56 recorded on Thursday.

Also, the market capitalisation rose by N164 billion or 0.83 per cent to close at N19.919 trillion from N19.755 trillion on Thursday.

A breakdown of the price movement table indicates that NASCON topped the gainers’ chart in percentage terms with 9.76 per cent to close at N15.75 per share.

Ikeja Hotels came second with 9.59 per cent to close at N1.60, while Berger Paints increased by 9.52 per cent to close at N9.20 per share.

Academy Press rose by 9.38 per cent to close at 35k, while Tripple Gee garnered 9.09 per cent to close at 84k per share.

On the other hand, UPL dominated the laggards’ table in percentage terms by 8.98 per cent to close at N1.52 per share.

Linkage Assurance lost 7.61 per cent to close at 85k, while FCMB Group dipped 7.46 per cent to close at N3.10 per share.

The banking stocks drove the activity chart with Wema Bank emerging the most active, accounting for 36.07 million shares worth N24.64 million.

Courtville trailed with 20.80 million shares worth N4.29 million, while Fidelity Bank sold 19.11 million shares valued N44.39 million.

Access Bank accounted for 18.36 million shares worth N157.05 million, while Zenith Bank traded 17.91 million shares valued  N429.49 million.

In all, investors bought and sold a total of 209.19 million shares worth N2.01 billion in 3,240 deals, representing an increase 1.82 per cent.

This is in contrast with a total of 205.45 million shares valued N2.74 million shares traded in 3,563 deals on Thursday. 

(NAN)

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