Nigerian Stocks Climb By N237 Billion As Big-Cap Stocks Strengthen Gains

22 October 2021

The all-share index jumped 454.40 points to 41,704.11, while market capitalisation rose to N21.8 trillion at the end of trade.

Nigerian stocks advanced by 1.1 per cent or N237.1 billion on Thursday as investors continued to take a risk-off stance in equities, helping to build a positive atmosphere around the market as the earnings season shapes up gradually.

Drivers of Thursday's gains were broad across sectors as disparate as financial service, telecoms, industrial goods and consumer goods, with NGX Group, Airtel Africa, MTNN and Nigerian Breweries leading the charge.

Market breadth, which gauges the level of investor sentiment towards trade, was positive as 23 gainers were recorded compared to 19 laggards.

The all-share index jumped 454.40 points to 41,704.11, while market capitalisation rose to N21.8 trillion at the end of trade.

The index has been up by 3.56 per cent between January and now.

TOP FIVE GAINERS

Cutix appreciated by 10 per cent to N5.50. NGX Group added 9.79 per cent to end trade at N23.55. Consolidated Hallmark went up by 9.09 per cent to N0.60.

Nigerian Breweries advanced to N51.45, notching up 7.41 per cent in the process. BUA Cement completed the top 5, climbing by 6.12 per cent to close at N72.

TOP FIVE LOSERS

The Initiates led laggards, declining by 8.51 per cent to N0.43. Neimeth shed 4.86 per cent to close at N1.76.

Universal Insurance fell to N0.20, losing 4.76 per cent. NAHCO dipped to N3.47, recording 3.61 per cent depreciation. Unity Bank closed at N0.55, going down by 3.51%.

TOP FIVE TRADES

Altogether, 216.2 million shares estimated at N10.216 billion were traded today in 6,703 deals.

FBN Holdings was the most active stock, with 51.9 million units of its stocks worth N628.3 million traded in 454 deals. ETI traded 20 million shares priced at N143.7 million in 106 transactions.

Transcorp saw 14.6 million units of its shares, valued at N15 million exchange hands in 128 deals. Access traded 13 million shares estimated at N124.2 million in 171 transactions. Fidelity traded 12.5 million shares valued at N34.2 million in 135 deals.

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