Investors Gain N253bn as Prices of 24 Stocks Rise

November 10, 2021
Stock Market Newspaper

By Dipo Olowookere

It was another bullish trading session on the floor of the Nigerian Exchange (NGX) Limited on Tuesday as the rally was extended by 1.12 per cent at the close of transactions.

Yesterday’s growth was influenced by the rise in the prices of 24 stocks at the market and this was majorly due to bargain hunting in the equities like Ardova, MTN Nigeria, Airtel Africa, UAC Nigeria, FTN Cocoa, amongst others.

Consequently, the All-Share Index (ASI) increased by 483.68 points to 43,730.55 points from 43,246.87 points, while the market capitalisation expanded by N253 billion to N22.822 trillion from N22.569 trillion.

During the trading day, the insurance index was the lone decliner and it depreciated by 0.28 per cent, while the four other key sectors closed positive.

The consumer goods and industrial goods sectors appreciated by 0.21 per cent each, while the energy counter grew by 0.12 per cent, with the banking sector appreciating by 0.07 per cent.

Unlike the preceding session, investor sentiment was positive on Tuesday as there were 24 price gainers and 16 price losers led by Berger Paints, which fell by 9.52 per cent to N8.55.

Caverton declined by 9.09 per cent to N1.70, University Press dropped 7.39 per cent to N2.13, Regency Assurance decreased by 6.82 per cent to 41 kobo, while Conoil shed 5.65 per cent to sell for N21.70.

Business Post reports that FTN Cocoa and ABC Transport were the best-performing stocks yesterday as they gained 10.00 per cent each to trade at 44 kobo and 33 kobo respectively.

Ardova appreciated by 7.38 per cent to sell for N14.55, UAC Nigeria jumped by 7.14 per cent to N11.25, while Livestock Feeds increased by 6.83 per cent to finish at N2.19.

At the market on Tuesday, investors bought and sold 280.7 million equities, 36.72 per cent lower than the 443.6 million equities transacted on Monday.

In the same vein, shares worth N3.5 billion exchanged hands during the session, 31.14 per cent lower than the N5.1 billion traded a day earlier, while the number of deals went down by 17.03 per cent to 4,342 deals from 5,233 deals.

Sterling Bank again was the most active stock with the sale of 83.3 million units valued at N125.1 million, followed by UAC Nigeria, which exchanged 34.2 million units worth N360.5 million.

Zenith Bank traded 17.5 million stocks for N427.2 million, United Capital also transacted 17.5 million equities valued at N169.8 million, while Access Bank exchanged 15.3 million shares worth N144.4 million.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

Leave a Reply

Pension Industry
Previous Story

SEC Seeks Innovative Financial Products for Pension Industry

brent crude oil
Next Story

Brent Trades $85 as US Lifts Travel Restrictions

Latest from Economy

Don't Miss