Stock market advances by 2.66% WtD amidst renewed investors’ optimism

The first trading week on the floor of the Nigerian Exchange closed on a bullish note occasioned by the listing of BUA Foods.

The All Share Index grew by 2.66% week on week to close at 43,854.42 points from the previous close of 42,716.44 points.

The Market Capitalisation grew by 5.97% to close at N23.628 trillion from the previous close of N22.296 trillion.

In course of last week, an aggregate of 2.027 billion units of shares were traded in 15,750 deals, valued at N59 billion.

 The Market Breadth closed positive as 40 equities emerged as gainers against 31 equities that declined in their share prices.

Top 10 Gainers

 Academy Press led other gainers with 20% growth week on week, closing at N0.60 from the previous close of N0.50.

Cornerstone Insurance and Meyer Plc both grew their share prices by 19.57% to close at N0.55 respectively.

Others among top ten gainers include: Wema Bank (18.06%), Japaul Gold (15.38%), AIICO Insurance (11.43%), Airtel Africa (10%), PZ (9.84%), CWG (9.82%) and ABC Transport (9.68%) respectively.

Top 10 Losers

Sunu Assurance led other price decliners in the course of last week, shedding 17.78% of its share price to close at N0.37 from the previous close of N0.45.

Consolidated Hallmark Insurance, Sovereign Trust Insurance, Vitafoam and Northern Nigerian Flour Mills shed their share prices by 16.46%, 13.33%, 10% and 9.38% respectively.

Other top ten price decliners include: Coronation Insurance (-8.93%), Regency Assurance (-7.84%), NEM Insurance (-7.78%), Unity Bank (-7.41%) and Royal Exchange (-6.82%) respectively. 



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