Stock market returns 1.61% WtD amidst renewed investors’ optimism

For five consecutive days last week, the stock market was bullish occasioned by renewed optimism by investors as the market await Q3 results of listed firms.

The All Share Index appreciated by 1.61% week on week, to close at 40,868.36 points from the previous close of 40,221.17 points.

Year to date the market returned 1.48%, wiping off its losses to begin an uptrend journey.

The Market Capitalisation grew by 1.62% week on week, to close at N21.296 trillion from the previous close of N20.956 trillion, thereby gaining N340 billion.

An aggregate of 331 million units of shares were traded in 3,986 deals, valued at N2.92 billion.

The Market Breadth closed positive as 42 equities emerged as gainers against 26 equities that declined in their share prices.

Top 10 Gainers

University Press led other gainers with 28.46% growth week on week to close at N1.58 from the previous close of N1.23.

First Bank of Nigeria Holdings, Courteville, Ecobank and Pharmadeko grew their share prices by 21.74%, 17.14%, 16.67% and 10.64% respectively.

Others among top ten gainers include: Eterna Plc (10%), Universal Insurance (10%), Livestock Feeds (9.68%), Chams (9.52%) and NPF Microfinance Bank (9.09%).

Top 10 Losers

Cornerstone Insurance led other price decliners as it sheds 12.07% of its share price to close at N0.51 from the previous close of N0.58.

Morison, BOC Gases, Regency Assurance and Academy Press shed their share prices by 10%, 9.87%, 9.09% and 7.69% respectively.

Other top ten price decliners include: Wema Bank (-6.25%), PZ (-6.09%), Honeywell (-5.32%), International Breweries (5.21%) and Neimeth (-4.57%).



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