Local stock market sustains positive sentiments amid weak activity

Despite weak trading activities, positive sentiments persist at the Nigerian Exchange Limited (NGX) on Thursday, as the All-Share Index (ASI) advanced by 0.10 per cent to 39,210.10 basis points.

Trading during the day was mixed, however, investors’ late demand for Vitafoam and May & Baker drove the performance as each advance by 3.5 per cent and 5.0 per cent.

Consequently, investors earn N20.4 billion as the market capitalisation settled at N20.44 trillion as against an opening mark of N20.42 trillion.

Accordingly, Month-to-Date (MTD) gain increased to two per cent while Year-to-Date (YTD) loss moderated to -2.6 per cent.

As measured by market breadth, market sentiment was positive, as 19 tickers gained relative to 15 losers.
On the performance chart, Linkage Assurance and PZ made the most significant gains of the day having notched 9.1 per cent and 7.1 per cent respectively; while CWG and Chi Plc topped the losers’ list after recording respective 9.6 per cent and 9.0 per cent decline in value.

On sectors, the NSE Banking and the NSE Consumer Goods indices rose by 0.52 per cent and 0.44 per cent respectively.

On the other hand, the NSE Insurance and the NSE Industrial indices fell by 1.04 per cent and 0.01 per cent respectively, while the NSE Oil/Gas index closed flat.

Meanwhile, trading activity was weak as the total volume and value of stock traded fell by 12.76 per cent and 43.52 per cent to 0.15 billion units and N2.2 billion respectively.

Zenith Bank was the most traded stock by volume and value at 27.32 million units and N629.22 million, respectively.

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No! TETFund Not Offering Nigerian Students N20,000 Grant

CLAIM: A website claims that the Tertiary Education Trust Fund (TETFund) is offering Nigerian students N20,000 grant. This is being sent to unsuspecting students as a bulk SMS with the name Tetfund2021.

VERDICT: False.

FULL STORY: Some Nigerian students on May 27, 2021, got an SMS on their mobile phones from TETFund2021, informing them of their eligibility for the ongoing TETFund 20,000 grant.Local stock market sustains positive sentiments amid weak activity

Local stock market sustains positive sentiments amid weak activity

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