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  • Business - Market Data
  • Updated: Oct 16, 2020

Nigerian Stock Market Rebound As Protest Enters Another Weekend

Nigerian Stock Market Rebound As Protest Enters Another Week

The Nigerian Stock Exchange market closed with 5,652 deals on Friday, October 16, 2020, higher than the 4,048 deals it closed with on Thursdays, October 15, 2020. The volume reached 489.11 million units at the close of the market on Friday, higher than the 342,19 million units it closed with on Thursday.

The value of trades recorded on Friday was NGN4,720 billion, lower than the NGN5,039 billion of Thursday. Meanwhile, on Friday, the All-Share Index reached 28,659.45 index points, lower than the 28,344.04 index points it ended trading with on Thursday.

The stock market also ended with a NGN14,979 trillion equity capitalisation on Friday, slightly higher than the NGN14,814 trillion of Thursday.

The market rebounded as peaceful protesters were dispersed by thugs conveyed by Primaro Transport. The transportation company used its Sterling Bank-funded bus to convey Thugs to Alausa, Lagos State, to attack peaceful protesters demanding the end to Police brutality and the scrapping of the Police unit, the Special Anti-Robbery Squad (SARS), known for harassing and killing Nigerian youths.

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Top Five Gainers

Wapco led the top gainers' chart after its stock price gained NGN10.2 kobo to close trading at NGN112.2 per share after opening today's trading with NGN102 per share, according to the Nigerian Stock Exchange (NSE) market data seen by AllNews.

Presco was second on the table, as its stock price gained NGN5.4 kobo to close the market with NGN65.9 kobo per share, having started trading today with NGN60.5 kobo per share.

Zenith Bank was the third top gainer as its stock price closed the market with NGN1.55 kobo gain to move from the opening price of NGN20 per share to NGN21.55 kobo per share. Nascon follows, closing the market with a gain of NGN0.9 kobo to end trading with NGN13 per share from the opening share price of NGN12.1 kobo per share.

GTBank was last on the top five gainers' table after its share price rose from NGN29.5 kobo per share to close trading at NGN30.35 kobo per share, after gaining NGN0.85 kobo.

Top Five Losers

On the top of the losers' list is Eterna, which had begun trading earlier today at NGN5.29 per share, only to drop in price by NGN-0.39 kobo to close at NGN4.9 kobo per share at the end of trading today.

ETranzact was second on the chart after closing at NGN1.73 kobo per share from its opening trade price of NGN1.91 kobo per share; this represents a drop of NGN-0.18 kobo. Cutix also recorded a drop in its share price as it declined by NGN-0.18 kobo to close trading at NGN1.62 kobo per share, below the NGN1,8 kobo per share it opened with.

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Fidson also recorded a drop in its share price as it declined by -1.69% to close trading at NGN3.5 kobo per share, below the NGN3.56 kobo per share it opened with. UBN completed the top five losers chart after it closed trading with NGN4.95 kobo per share, declining by -1.00% from the NGN5 per share it opened trading with.

Top Five Trades

AllNews learnt that the top trades in the stock market for today were UBA, which traded a volume of over 100.22 million units worth NGN696.29 million. Zenith Bank was the second most traded stock today with over 73.92 million units worth over NGN1.56 billion. First Bank was next on the list, trading 54.22 million units worth NGN344.04 million.

Fidelity Bank was the fourth on the most traded stock list, closing the market with over 34.56 million units traded at a cost of over NGN70.87 million, while Access Bank completed the top five list with over 29.15 million units traded today, worth NGN229.97 million.

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