Nigerian Stocks Rebound On Renewed Interest in Top Firms

The benchmark index climbed 380.81 points to close at 39,085.78, while market capitalisation rose to N20.450 trillion at the end of trade.

Nigerian stocks recovered on Wednesday, trading 0.98 per cent up, as investors' appetite for bellwethers lifted trade.

Blue-chip stocks like MTNN, Dangote Cement, Stanbic IBTC, Guinness, and Nigerian Breweries contributed tremendously to the positive performance.

Market breadth was positive as 20 gainers emerged against 16 losers.

The Consumer Goods Index was the day's best performer of the sectorial indices, going up 0.73 per cent to 538 points.

The benchmark index climbed 380.81 points to close at 39,085.78, while market capitalisation rose to N20.450 trillion at the end of trade.

Year to date, the index is down by 2.94 per cent.

TOP FIVE GAINERS

Stanbic led gainers, growing by 9.99 per cent to close at N48.45, buoyed by its strong 2020 financial result and simultaneous declaration of dividend and scrip. NPF Microfinance Bank gained 9.60 per cent to close at N1.94. Cornerstone rose by 8.93 per cent to N0.61. Guinness leapt to N27.30, notching up 8.76 per cent in the process. Oando completed the top 5, climbing up by 8.68 per cent to N3.38.

TOP 5 LOSERS

MRS topped the losers' table, declining by 9.70 per cent to close at N12.10. Wapic Assurance shrank by 9.09 per cent to end at N0.50. WAPCO tumbled to N20.90, losing 7.11 per cent. Africa Prudential dipped to N5.20, recording a 5.45 per cent loss. Livestock closed at N1.81, going down by 4.74 per cent.

TOP FIVE TRADES

In all, 361.903 million shares worth N5.702 billion were traded in 4,018 deals.

Union Bank was the most preferred stock with 79.346 million of its stocks worth N420.533 million traded in 39 deals. 72.620 million units of GTB shares priced at N2.259 billion exchanged hands in 485 transactions. Veritas Kapital had 50.247 million shares valued at N10.525 million traded in 21 deals. Ekocorp traded 20 million shares estimated at N120 million in one transaction. Zenith traded 16.675 million shares valued at N367.031 million in 405 deals.

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