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Saturday, October 16, 2021

Nw: Nigerian stocks surge to 6-week excessive, design N382 billion

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Nigerian stocks made a convincing rebound on Wednesday, mountain climbing 1.89 per cent in its biggest performance in many days, which seen equities on the overall love by N382 billion.

The benchmark index touched its top since August 19, drawing improve from merchants’ astronomical put a query to for the shares of FBN Holdings, Nestle and Dangote Cement.

“In the remaining purchasing and selling session for the week, we anticipate an extension of this sure momentum as merchants snap up bargains sooner than the weekend”, analysts at broker Afrinvest talked about of Thursday’s commerce.

Market breadth, usually outdated to measure merchants’ perspective in direction of commerce, closed in the sure after 23 advancers were reported when compared to 15 advancers.

The all-half index lifted by 733.30 choices to 39,592.29, while market capitalisation scaled up to N20.63 trillion.

The index is down by 1.68 per cent year prior to now.


NNFM led gainers, appreciating by 6.88 per cent to shut at N8.55. FBN Holdings grew by 6.62 per cent to total commerce at N8.05. Dangote Cement went up 6.53 per cent to N261. Nestle rose to N1,489, notching up 6.36 per cent in the design. Courteville traded up 6.06 per cent to N0.35.


Mansard topped the losers’ chart, declining by 10 per cent to shut at N2.43. Julius Berger shed 10 per cent to total at the present time’s commerce at N24.30. Vanleer fell to N5.45, losing 9.92 per cent in the design. Sovereign Belief slumped to N0.22, recording 8.33 per cent depreciation. Consolidated Hallmark closed at N0.53, going down by 7.02 per cent.


Altogether, 474.4 million shares estimated at N4 billion were traded in 3,547 deals.

FBN Holdings became the most active stock with 264.7 million of its shares rate N2.1 billion traded in 264 deals. In model Insurance protection traded 76.7 million shares priced at N15.3 million in 17 transactions. Mansard had 13.1 million shares valued at N31.8 million commerce fingers in 141 deals. Zenith traded 12.1 million shares estimated at N283.3 million in 298 transactions. Fidelity traded 11.2 million shares valued at N27.5 million in 96 deals.

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