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| [22-Oct-2021] Investors gain N237 billion amid rally in high cap stocks |
| Transactions on the equities sector of the Nigerian Exchange Limited (NGX) sustained a rising profile yesterday, occasioned by gains in many highly capitalised stocks, causing investors’ wealth to soar by N237 billion. In summary, the All-Share Index (ASI) expanded by 454.40 absolute points, representing a rise of 1.10 per cent, to close at 41,704.11 points. Similarly, the overall market capitalisation value surged by N238 billion to close at N21.764 trillion. The market’s positive performance was driven by price appreciation in large and medium capitalised stocks including, Airtel Africa, BUA Cement, Nigerian Breweries, Nigerian Exchange Group and MTN Nigeria Communications (MTNN). Analysts at Afrinvest Limited said: “ In the final trading session of the week, we anticipate a pullback occasioned by profit-taking activities.” Vetiva Dealings and Brokerage said: “Despite bullish sentiments in some selected stocks, overall market sentiment has been somewhat tepid amid reduced foreign participation even as we approach the end of the year. “We expect the market to trade mixed tomorrow, with the possibility of closing up barring any significant price dip in any of the large-cap names.” The market breadth closed positive, recording 23 gainers and 18 losers. Cutix recorded the highest price gain of 10 per cent to close at N5.50, per share. Nigerian Exchange Group followed with a gain 9.79 per cent to close at N23.55, while Consolidated Hallmark Insurance appreciated by 9.09 per cent to close at 60 kobo, per share. Nigerian Breweries went up by 7.41 per cent to close at N51.45, while BUA Cement appreciated by 6.12 per cent to close at N72.00, per share. On the other hand, The Initiates Plc (TIP) led the losers’ chart by 8.51 per cent to close at 43 kobo, per share. Neimeth International Pharmaceuticals followed with a decline of 4.86 per cent to close at N1.76, while Universal Insurance lost 4.76 per cent to close at 20 kobo, per share. Nigerian Aviation Handling Company (NAHCO) shed 3.61 per cent to close at N3.47, while Unity Bank and Royal Exchange depreciated by 3.51 per cent each to close at 55 kobo each, per share. The total volume of trades declined by 56.7 per cent to 216.195 million units, valued at N3.381 billion, and exchanged in 4,272 deals. Transactions in the shares of FBNH topped the activity chart with 51.915 million shares valued at N628.328 million. Ecobank Transnational Incorporated (ETI) followed with 20.02 million shares worth N143.691 million, while Transnational Corporation of Nigeria (Transcorp) traded 14.646 million shares valued at N14.974 million. Access Bank traded 13.034 million shares valued at N124.228 million, while Fidelity Bank transacted 12.481 million shares worth N34.160 million. Source:© Copyright The Guardian Online |
| [2021-10-22] Investors gain N237 billion amid rally in high cap stocks |