Local bourse lifts bears with 0.02 per cent marginal growth

The local bourse index advanced marginally by 0.02 per cent to close at 38,774.03 basis points amid renewed bullish activity at the end of Wednesday’s trade.

The positive sentiments are attributed to late interest in MTN Nigeria and Nestle Nigeria whose shares value increased by 1.1 per cent and 3.3 per cent respectively, cancelling out the effects of the sell-offs on tier 1 banks, Zenith Bank and Guaranty Trust Bank whose shares declined by 4.1 per cent and 3.3 per cent respectively.

Consequently, the Month-to-Date and Year-to-Date losses moderated to -0.7 per cent and -3.7 per cent, respectively.
As measured by market breadth, market sentiment remained negative as 27 tickers declined relative to 10 gainers.

On the performance chart, Sterling Bank and Pharmdeko topped the losers’ list with a 9.5 per cent respective decline in share value, while Jaiz Bank and Royal Exchange recorded the most significant gains of the day with ten per cent and 8.3 per cent respective shares increase.

Sectoral performance was also weak as the remaining four indices tracked closed southwards; the NSE Banking, the NSE Insurance, NSE Oil/Gas and the NSE Industrial indices fell by 3.12 per cent, 1.71 per cent, 0.28 per cent and 0.66 per cent respectively.

Meanwhile, trading activity was upbeat as total deals, volume and value of stocks traded rose by 31.12 per cent, 58.71 per cent and 95.63 per cent to 6,130 deals, 0.35 billion units and N4.1 billion respectively.

Zenith Bank was the most traded stock by volume and value at 55.03 million units and N1.16 trillion, respectively.


COVID-19: Nigeria Recorded 624 New Infections Last Week, Lowest In Over Five Months

Last week, Nigeria recorded 624 new COVID-19 infections which is the lowest the country recorded in five months, Tribune Online analysis shows.

The 624 new cases reported between March 28 and April 3 is a reduction from the 849 recorded the previous week…

Inside Ibadan Bound Train From Lagos

The train started the 156.65 kilometres journey to Lagos at exactly 08:00hrs. The pace of its acceleration was minimal.

At about 25 minutes, the train slowed down at the uncompleted Omi-Adio terminal, a village on the Abeokuta/Ibadan expressway; it’s a stone throw from Apata in Ibadan. Conveyance of passengers from there and other terminals has not kickstarted as the terminals are still under construction and workers were found there…Local bourse lifts bears with 0.02 per cent marginal growth

Local bourse lifts bears with 0.02 per cent marginal growth

You might also like

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