Investors optimism on the rise, despite 0.83% market decline

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market update

 

As the days go by, the quality of gains on the floor of the Nigerian stock market keep improving despite the seeming bearish runs witnessed lately. The number of gaining stocks today increased to 18 as against the 12 and 15 stocks’ gains recorded on Tuesday and Wednesday respectively, while the number of losing stocks keeps declining from 30 stocks on Wednesday to 27 stocks on Thursday.
The market again resumes in the red losing 0.83%, closing below the 40,992.97 points of yesterday’s 0.93% gain as the All Share Index today drops 341.56 points to close at 40,651.41 points.

Market capitalisation also declined by 0.84% from N14.849 trillion of the previous trading session to close at N14.725 trillion.

 

Volume of traded stocks grew by 63.54% closing at 424.36 million units from the previous close of 259.4 million units on Wednesday. Total value of traded stocks also appreciated by 73.43% settling at N7.57 billion as against the previous close of N4.36 billion

Market breadth
Out of 111 stocks traded on the floor on Thursday, 18 stocks gained while 27 stocks lost leaving the market breadth negative.

Percentage gainers

Sovereign Trust Insurance again led other 17 stocks on the percentage gainers list growing by 9.09%, closing at N0.24 from the previous close of N0.22. This is followed by Custodian which grew 5% and Oando also grew 4.86%. Guaranty Trust Bank also made it back to the gainers list after consistent losses in previous trading sessions.

Percentage losers

CCNN tops the losers chart losing 5.26% of its share price to close at N26.1 from the previous close of N27.55. This is followed by Sterling Bank losing and Africa Alliance insurance that lost 4.9% and 4.76% respectively.

The most actively traded stock of the day is Zenith Bank, trading about 170.6 million units of its shares in 203 deals worth about N4.7 billion

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