Business

Investors gain N262.8bn as local stock market hits 14yrs high

Kehinde Akinseinde-Jayeoba
Equities market opens week bullish as investors earn N124bn, Equities investors earn N285.4bn in 5 days amid buying interest, Equities investors lose N163.6bn in 5 days amid sell-off activities, Gains in Dangote Cement shares push market to positive close, Market opens week flat, as investors stakes 103.3m shares worth N2.14bn, Equities market reverse previous day's gain as investors lose N24.1bn, Investors earn N7.2bn, Sell-offs on Airtel Africa, Equities investors lose N18.1bn , MTNN losses further dip, Geregu Power's 2.5bn shares , Equities investors earn N103.4bn as local bourse rebounds by 0.4%, BUA Cement losses further dips , Equities investors lose N19bn, Equities market dips by 0.10% as investors lose N28bn, Local stock market decline, Bullish sentiment dominates market, stock market closed week, Bears persists to second consecutive week, Local stock market closes in red despite robust trade, stock market hits 7th-day, Local stock market opens week weaker by 1.2% as investors lose N312bn, Equities investors lose N6bn, Equities investors lose N90bn as market dips by 0.3%, Banking stocks lift local bourse marginally, as investors earn N12bn, Equities investors gain N5.6trn, stock market closes flat, stock market second loss, Bulls persist at NGX, Profit-taking takes up activities , Bears persist at NGX , Equities investors earn N158bn, Investors lose N22bn , capital investment in Q1 2022, Nigerian equities market opens, Nigerian equities market opens June bearish as ASI dips further by 1.24%, Equities investors earn N596bn, stock market halts bearish, Local stock market, stock market opens week, Investors gain N262.8bn as local stock market hits 14yrs high. Equities investors gain N1.45trn, Equities investors earn N143bn as bullish sentiment persists at NGX, Equities investors earn N5.21bn as ASI adds 2bps, Oil stocks push market, The Nigerian equities market posted the biggest single day gain in three months as the benchmark index inched up 1.25 per cent to close at 48,138.71 basis points, Equities investors earn N19.1bn , Investors earn N87.48bn, Negative sentiment persists at NGX as ASI further shed 0.48%, Equities investors lose N83bn, Nigerian equities investors, Investors lose N25bn , Access Bank stocks, Custodian records revenue growth, Local stock market , Equities investors earn N72bn as market reverses 5th-day loss, Bears maintain on stock market, Nigerian stock market, Equities investors lose N66bn as market dips by 0.26%, Equities investors lose N22bn, NGX: Equities investors earn N51bn to open week bullish, Equities investors gain N23bn as activities go uptick, Equities investors earn N54bn, Equities investors earn N54bn , Equities market bows to profit-taking, Local stock market maintains, Equities investors gain N2.3trn in January as bulls persist at NGX, Equities investors gain N137bn, Local stock market halts, Bullish trend wanes, Equities investors gain N810bn in 5 days as market hits 13-year high, Equities investors, Equities investors earn N323bn, Local stock market , Bulls persist at stock market, Equities investors gain N1.24trn, Equities market closed week, Local stock market maintains, Selloffs of banking stocks, Investors earn N253bn , Stock market rebounds , Local stock market sheds, Investors lose N391bn, Local stock market, Bears persists at NGX , Sell-off on MTNN stocks, Local stock market opens , Investors gained N54bn in 5 days amidst renewed buy sentiments, NGX benchmark index dips , Equities investors lost N28bn in 5 days amidst positive outlook, Equities investors lose , Airtel stocks push market , Stock market begins week on red zone as investors lose N12bn, Equities Investors gain N252bn as bulls persists at NGX, Bearish moments persist, tepid activities, Investors earn N27bn as bulls persists at NGX, Investors' interest in high cap , Local stock market bows , NGX: Market sustains positive sentiments, posts 0.4 per cent gain, Profit-taking dips market , Equities investors gained N340bn, Airtel Africa pushes market's worth, NGX: Investors earned N350bn in August, analysts predict positive H2, NGX ASI crosses 40,000 points as bulls persists, Local stock , market posts ASI shed 0.05%, dips market further by 0.1%, NGX: Banking stocks’ loss reverse gains as ASI sheds 0.1%, Equities market records marginal loss amidst robust activities, Profit taking takes toll, Equities investors lose N24.4bn

Equities trading started the week on a positive note, at the Nigerian Exchange Limited (NGX) supported by investors’ demand for BUA Cement.

The All-Share Index (ASI) rose by 0.98 per cent to close at 50,126.41 basis points amid sustained bargain hunting activity, crossing the 50,000 points psychological mark, the highest point since 06 August 2008.

Buying interest in tickers such as Okomu Oilpalm, Nigerian Breweries, Presco, Cadbury and Guinness, as their respective share prices surged by 10.00 per cent, 9.98 per cent, 9.97 per cent, 9.76 per cent and 7.53 per cent.

Hence, the year-to-date gain of the local bourse rose to 17.35 per cent.

Equities investors, therefore, earned N262.80 billion as the market capitalization closed at N27.02 trillion on Wednesday.

Given the bullish sentiment at the Exchange, market breadth was positive as 31 tickers gained relative to 26 losers.

On the performance chart, Okomu Oil palm and Wema Bank recorded the highest gains of the day having appreciated in share value by 10.0 per cent each, while Oando and TransExpress topped the losers’ list after their respective value dipped by 10.0 per cent and 9.9 per cent.

Nevertheless, performance across sub-indices tracked was largely negative except for the NGX Industrial and the NGX Consumer Goods index, which rose by 3.30 per cent and 2.97 per cent respectively. The NGX Banking index, NGX Insurance Index and the NGX Oil/Gas decreased by 0.98 per cent, 3.77 per cent and 1.37 per cent respectively.

Analysis of market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions declining by 80.19 per cent.

A total of 669.30 million shares valued at N5.99 billion were exchanged in 7,251 deals.

Union Bank of Nigeria was the most traded stock by volume and value at 263.65 million units and N1.66 billion, respectively.

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