Investors gain N301bn as equities market reverses losses

The Nigerian equities market halts bearish stance after recording three consecutive bearish days as a major market indicator, All Share Index (ASI) inch up by 1.68 per cent to close at 34,818.01 basis points on Wednesday.

Consequently the Month-to-Date and Year-to-Date gains increased to 14 per cent and 29.7 per cent, respectively, just as the market capitalisation added N300.55 billion to close at N18.194 trillion.

Equities market sentiment, as measured by market breadth, was also positive, as 38 tickers gained, relative to eight losers with Linkage Assurance and Sterling Bank leading the gainers’ list after advancing by ten per cent respectively, while Cornerstone Insurance and Regal Insurance ORNERST (-8.6%) and REGALINS (-8.3%) recorded the largest losses of the day after losing 8.6 per cent and 8.3 per cent from their respective shares.

The sectoral performance was broadly positive, as gains in the Consumer Goods, Industrial Goods and Banking indices, masked declines in the Insurance and Oil and Gas indices.

The volume of trades dwindled by 93.94 per cent after recording 661 million units as against 9.36 bn units in the previous trading session.

Value of trades likewise went southward by 30.97 per cent, standing at N8.29 billion from a value of N12.02 billion recorded in the previous trading session.

Zenith Bank, Guaranty Trust Bank, Zenith Bank, Access Bank and FBN Holdings were the top five performers in terms of volume of units traded, while Guaranty Trust Bank, Zenith Bank, Access Bank, Nestle and Wapco made up the top five performers in terms of the value of trade.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Weekly Review: Nigeria’s COVID-19 Infections On The Rise Again

Nigeria’s new COVID-19 infections increased again last week, Tribune Online analysis shows.

Last week, the 46th week of the pandemic in Nigeria, the country recorded 1,206 new infections (November 8 – 14), an increase when compared to the 923 cases recorded the previous week…

BREAKING: Ooni Of Ife, Queen Naomi Welcome Baby Boy

After two years of marriage and waiting on the Lord, the Ooni of Ife and his Queen, Naomi Silekunola, on Wednesday, announced the arrival of a baby boy into the royal house of Oduduwa.

You might also like
Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More