Business - January 7, 2021

Nigerian Stock market indicators rebound by 0.17%

The Nigerian Stock Exchange market indicators on Wednesday showed a marginal rebound by 0.17 percent as interests in some banking stocks continue to grow.
At the end of trading, the All-Share Index of the market rose by 69.01 points, or 0.17 percent to close at 40,465.15 from 40,396.14 recorded on Tuesday.
Also, the market capitalisation which opened at N21.122 trillion rose by N36 billion to close at N21.158 trillion.
Analysts said the growing trend in the market was bouyed by price appreciation in medium and large capitalised stocks, including those of two of the country’s biggest commercial banks, Zenith Bank and United Bank for Africa.
Other stocks that recorded positive appreciable values include BOC Gases, Flour Mills and Vitafoam Nigeria.
Similarly, the NSE Market breadth was also positive, with 23 gainers against 16 losers.
NEM Insurance led the gainers’ chart in percentage terms, growing by 9.69 percent to close at N2.15 per share.
The gainers chart was followed by BOC Gases with 9.52 pecent to close at N11.50, while Japaul Gold rose by 9.46 per cent to close at 81k per share.
Also, Linkage Assurance grew by 9.26 percent to close at 59k, while Regency Alliance Insurance appreciated by 9.09 percent to close at 24k per share.

On the other hand, Sovereign Trust Insurance dominated the losers’ chart in percentage terms by 8.33 percent to close at 22k per share.
Eterna Oil was also on the losers’ side with a loss of 8.17 per cent to close at N5.28 per share.
Deap Capital Management & Trust shed eight percent to close at 23k, while Royal Exchange and FTN Cocoa Processors depreciated by 7.69 percent each to close at 24k and 60k per share, respectively.
However, the total volume traded declined by 46.41 percent as investors bought and sold 249.55 million shares worth N2.18 billion in 6,090 deals.
The result was against a total of 465.67 million shares valued at N5.12 billion exchanged in 7,573 deals on Tuesday.
Transactions in the shares of Japaul Gold and Ventures topped the activity chart with 28.05 million shares worth N22.72 million.
Access Bank followed with 21.89 million shares valued at N190.43 million, while AXA Mansard Insurance sold 13.26 million shares worth N16.39 million.
United Bank for Africa accounted for 13.23 million shares valued at N113.09 million, while Transcorp transacted 12.79 million shares worth N12.13 million. (NAN)

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