Nigerian stocks rise for 28th straight day on increased demand for heavyweight shares
Nigerian stocks appreciated for the 28th day in a row on Thursday as the benchmark index expanded by 1.4 per cent and more cash chased a couple of heavyweight equities including MTNN, Guinness, Nigerian Breweries, Presco, Okomu Oil and Airtel Africa.
Transaction volume fell by 31 per cent compared to previous session’s, but turnover improved by 39 per cent.
Market breadth, an indicator of investors’ sentiment towards trade, closed positive as 32 gainers emerged, relative to 22 losers. The remaining 57 participating stocks did not record price movement.
The all-share index added 709.5 basis points to close at 50,836, while market capitalisation jumped to N27.4 trillion.
Year to date, the index is up by 19 per cent.
TOP FIVE GAINERS
McNichols led gainers, appreciating by 10 per cent to close at N0.77. Guinness grew by 10 per cent to end trade at N110. Nigerian Breweries went up by 9.95 per cent to N69.05.
Fidson rose to N9.85, notching up 9.93 per cent in the process. Conoil climbed up by 9.92 per cent to N28.80.
TOP FIVE LOSERS
Transcorp Hotel topped the losers’ chart declining by 9.09 per cent to close at N4.50. Multiverse shed 8.70 per cent to end trade at N0.21.
Mutual Benefits fell to N0.24, losing 7.69 per cent in the process. FTN Cocoa dipped to N0.36, recording 7.69 per cent depreciation. Oando closed at N5.25, going down by 7.41 per cent.
TOP FIVE TRADES
Altogether, 462.6 million shares estimated at N8.3 billion were traded in 6,801 deals.
FCMB was the most active stock, trading 138.5 million shares worth N485.2 million traded in 78 deals. Zenith Bank’s shares of 29.4 million units priced at N705 million exchanged hands in 574 transactions.
Transcorp had 26.4 million shares valued at N30.6 million traded in 161 deals. UBA traded 20.7 million shares estimated at N166.4 million in 273 transactions. GTCO traded 20.3 million shares valued at N478.8 million in 493 deals.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: To place an advert here . Call Willie – +2348098788999
Nigerian stocks appreciated for the 28th day in a row on Thursday as the benchmark index expanded by 1.4 per cent and more cash chased a couple of heavyweight equities including MTNN, Guinness, Nigerian Breweries, Presco, Okomu Oil and Airtel Africa.
Transaction volume fell by 31 per cent compared to previous session’s, but turnover improved by 39 per cent.
Market breadth, an indicator of investors’ sentiment towards trade, closed positive as 32 gainers emerged, relative to 22 losers. The remaining 57 participating stocks did not record price movement.
The all-share index added 709.5 basis points to close at 50,836, while market capitalisation jumped to N27.4 trillion.
Year to date, the index is up by 19 per cent.
TOP FIVE GAINERS
McNichols led gainers, appreciating by 10 per cent to close at N0.77. Guinness grew by 10 per cent to end trade at N110. Nigerian Breweries went up by 9.95 per cent to N69.05.
Fidson rose to N9.85, notching up 9.93 per cent in the process. Conoil climbed up by 9.92 per cent to N28.80.
TOP FIVE LOSERS
Transcorp Hotel topped the losers’ chart declining by 9.09 per cent to close at N4.50. Multiverse shed 8.70 per cent to end trade at N0.21.
Mutual Benefits fell to N0.24, losing 7.69 per cent in the process. FTN Cocoa dipped to N0.36, recording 7.69 per cent depreciation. Oando closed at N5.25, going down by 7.41 per cent.
TOP FIVE TRADES
Altogether, 462.6 million shares estimated at N8.3 billion were traded in 6,801 deals.
FCMB was the most active stock, trading 138.5 million shares worth N485.2 million traded in 78 deals. Zenith Bank’s shares of 29.4 million units priced at N705 million exchanged hands in 574 transactions.
Transcorp had 26.4 million shares valued at N30.6 million traded in 161 deals. UBA traded 20.7 million shares estimated at N166.4 million in 273 transactions. GTCO traded 20.3 million shares valued at N478.8 million in 493 deals.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: To place an advert here . Call Willie – +2348098788999
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.