Stock market rebounds marginally by 0.03%

Fri, Oct 21, 2022
By editor


TRADING activities on the Nigerian Exchange Ltd. (NGX) rebounded marginally on Thursday by N7 billion, halting three consecutive days of bearish trend due to sustained bargain-hunting.

Specifically, the market capitalisation, which opened at N24.139 trillion, rose by N7 billion or 0.03 per cent to close at N24.146 trillion.

Also, the All-Share Index increased by 14.06 points or 0.03 per cent to close at 44,332.21 against 44,318.15 achieved on Wednesday.

As a result, the year-to-date (YTD) return stood at 3.78 per cent.

The gains were driven by price appreciation in large and medium capitalised stocks amongst which are Dangote Sugar, WAPCO and Stanbic Bank.

Consequently, market sentiment was flat with 17 stocks recording gains and losses, respectively.

CWG led the gainers’ table in percentage terms, gaining 10 per cent each to close 80k per share

Livestock Feeds and BOC Gases trailed with 9.59 per cent to close at 80k per share.

UPDC Real Estate Investment followed with a gain of 8.93 per cent to close at N3.05, while Japaul Gold and Ventures grew by 7.69 per cent to close at 28k per share.

WAPIC Insurance rose by 5.88 per cent to close at 36k, while Dangote Sugar increased by 3.92 per cent to close at N15.90 per share.

On the other hand, Beta Glass Company led the losers’ chart in percentage terms, losing 9.98 per cent each, to close at N46.10 per share.

Aluminium Extrusion Industries shed 9.72 per cent to close at N7.20 per share.

Mutual Benefits Assurance and RTBriscoe dipped by 9.68 per cent each to close at 32k per share, respectively.

Regency Alliance Insurance dropped by 7.69 per cent to close at 26k per share.

Analysis of today’s market activities showed that trade turnover closed lower with the value of transactions down by 12.87 per cent.

The total volume of shares traded grew by 23.7 per cent with an exchange of 199.22 million shares worth N3.201 billion exchanged in 2,909 deals.

This was in contrast with a total of 165.35 million shares valued at N3.67 billion which were exchanged in 3,183 deals on Wednesday.

Fidelity Bank topped the activity chart with 39.36 million shares valued N149.02 million.

Guaranty Trust Holding Company (GTCO), came second with 83.19 million shares worth N15.4 million, while Japaul Gold and Ventures accounted for 6.8 million shares valued at N1.85 million.

Jaiz Bank sold 4.44 million shares worth N3.89 million, while Access Holdings transacted 4.35 million shares valued at N35.44 million. (NAN)