Stock Market Update: Bargain Hunters Sustain Market In Bullish Mode; Gains 3.40%

Trading activities on the Nigerian Stock Exchange (NSE) surged to a record level Friday as investors traded 3.99 billion shares worth N30.22 billion in 5,678 deals compared to 302.40 million shares worth N3.70 billion in 5,199 deals exchanged on Thursday. The surge in volume and value was caused by the significant deals done on Union Bank Nigeria Plc. shares in which 3.537 billion shares worth N26.534 billion in 32 deals. C&I Leasing Plc., Flourmill Plc., Academy Press Plc. and ABC Transport Plc. were the other most active stocks on the Exchange in volume terms.
stockexchange-floor
In similar vein,The Street Journal reports that bargain hunters pushed market values upward, sustaining the positive trend of the prior day as the Nigerian Stock Exchange All Share Index (NSEASI) appreciated by 3.40% (995.25) and returned the market above the 30,000 mark to close at 30,306.51 from 29,311.25 the prior trading day. Market Capitalisation also increased to N10.01 trillion from N9.67 trillion the previous day. The BGL 50 Index surpassed the market’s positive trend with an appreciation of 3.70% to close at 128.90 from 124.30 while the market capitalisation of the index rose to N9.33 trillion from N8.99 trillion the prior day.

Compared to 24 stocks on Thursday, a total of 42 stocks appreciated in value on the bourse on Thursday while 14 stocks lost value leaving 1646 stocks unchanged. UBA led the gainers table with 10.20% appreciation in value to close at N3.78 per share. It was followed by Transcorp which appreciated by 10.00% to close at N3.08 per share. Others on the gainers chart include; Access Bank Plc, Honeywell Flour Mills Plc and Learn Africa Plc. On the decliners’ chart, PZ cussons Plc sits atop with a loss of 9.72% in value to close at N25.09 per share. It was followed by Champion Brew. Plc which lost 9.46% in value to close at N4.88 per share. Other companies on the decliners’ chart are; Eterna Plc., Ikeja Hotel Plc and 7-up Bottling Comp. Plc.

UBA Plc topped the BGL 50 Index gainers’ chart with 10.20% increase to close at N3.78 per share. It was followed by Trancorp Plc which appreciated by 10.0% in value to close at N3.08 per share. Others on the gainers chart include; Access Bank Plc., Honeywell Flour Mill Plc., and Zenith Bank Plc. On the decliners’ chart, PZ Cussons Plc. led with a decrease of 9.70% in value to close at N25.09 per share. It was followed by 7-up Bottling Co. Plc. with a loss of 4.98% to close at N158.40 per share.

Author: News Editor

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