Nigerian Bourse Extends Winning Streak to 5 Straight Sessions

Nigerian Stock Exchange to complete public listing

Nigerian Stock Exchange to complete public listing

The domestic equity market closed Wednesday on a positive note, extending its winning streak to five straight sessions.

Investors’ interest in the banking and industrial sectors contributed to the positive outcome, with market indexes rising 0.12 per cent further.

Specifically, the All-Share Index grew by 48.54 points or 0.12 per cent to close Tuesday at 40,765.20 from 40,716.66.

Therefore, the month-to-date and year-to-date returns increased to 3.9 per cent and 1.2 per cent, respectively.

Additionally, the market capitalization rose 0.12% on Wednesday to settle at N21.242 trillion, up from N21.216 trillion on Tuesday.

The market performance was mainly driven by price appreciation in large and medium capitalised stocks – FBN Holdings (FBNH), Northern Nigeria Flour Mills (NNFM), UACN, Lafarge Africa and Africa Prudential.

However, market breadth was negative with 20 losers versus 19 gainers.

In percentage terms, FBNH dominated the gainers’ chart by 7.78 per cent to close at N9.70 per share.

University Press followed with 7.38 per cent to close at N1.31, while NNFM appreciated by 6.49 per cent to close at N8.20 per share.

Livestock Feeds improved by 5.38 per cent to close at N2.35, while Universal Insurance appreciated by five per cent to close at 21k per share.

On the other hand, Pharma Deko led the losers’ chart in percentage terms by 6.01 per cent to close at N2.66, per share.

Associated Bus Company followed with 5.71 per cent to close at 33k, while Regency Alliance Insurance shed 4.88 per cent to close at 39k per share.

Chams shed 4.55 per cent to close at 21k, while Sovereign Trust Insurance depreciated by 4.17 per cent to close at 23k per share.

Also, the total volume of trades dipped by 7.47 per cent with an exchange of 400.65 million shares worth N3.48 billion in 5,145 deals.

This was against a turnover of 432.99 million shares worth N3.13 billion exchanged in 4,377 deals on Tuesday.

Transactions in the shares of FBNH topped the activity chart with 108.74 million shares valued at N1.07 billion.

Transcorp followed with 39.68 million shares worth N38.38 million, while Ecobank Transnational Incorporated traded 32.78 million shares valued at N189.91 million.

United Bank for Africa sold 25.27 million shares worth N204.44 million, while Fidelity Bank transacted 19.89 million shares valued at N51.24 million.

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