Bargain hunters buying interest, particularly in the
telecommunication sector majorly led to the positive performance in yesterday’s
trading period.
In summary, overall market capitalisation value grew by
N163.22 billion or 0.81 per cent to close at N20.277 trillion from N20.114
trillion the stock market opened for trading.
Consequently, the Nigerian Exchange Limited All-Share Index
(ASI) grew by 313.27 basis points or 0.81 per cent to close at 38,917.99 basis
points from 38,604.72 basis points it closed yesterday.
The stock market gain on yesterday pushed Its Year-to-Date
(YTD) returns currently stands at -3.36per cent.
However, investor sentiment as measured by market breadth
was negative, as 26 stocks declined while 11 gained.
FTN Cocoa led the losers’ chart by 8.16 per cent to close at
N0.45, per share. Honeywell Flour followed with a decline of 7.78 per cent to
close at N1.54 from N1.67, while Mutual Benefits Plc lost 5.13 per cent to
close at N0.37 from N0.39 kobo, per share.
Transcorp Plc lost 5.10 per cent to close at N0.93, while
Neimeth shed 5.06 per cent to close at N1.50 from N1.58, per share it opened
for trading yesterday.
On the other hand, Wema Bank appreciated by 5.95 per cent to
close at N0.89 from N0.84, per share. UPDC followed with a gain of 5.93 per
cent to close at N1.25 from N1.18, while Airtel Africa went up by 5.69 per cent
to close at N650 kobo, per share.
Courtville Solution rose by 4.17 per cent to close at
N0.25kobo, while Cutix gained 3.95 per cent to close at N5.00 kobo, per share.
Market turnover closes negative as volume moved down by
-5.25per cent as against -36.90per cent decline recorded in the previous
session. Transcorp, Jaiz Bank and Honey Well Flour were the most active to
boost market turnover. MTN Nigeria and Zenith Bank topped market value list.
Cadbury Nigeria leads the list of active stocks that
recorded impressive volume spike at the end of today’s session.
This week, analysts at United Capital Plc expected investors
to react to the late flurry of results that came into the market last week.
“That said, we expect to see a tight trading week as
investors continue to take profits of the table while others consider decent
entry prices into large cap banking stocks yet to publish their H2, 2021
scorecards,” they explained.