• Business - Market Data
  • Updated: July 26, 2021

OANDO, FTN Cocoa Lead As Market Stays Bullish

OANDO, FTN Cocoa Lead As Market Stays Bullish

The Nigerian stock market continued its bullish run on Monday as investors maintained an interest in medium and capitalized stocks.

The All-Share Index grew by 181.18 points, or 0.47% to close at 38,849.08. As a result, market capitalization increased by N94 billion to close at N20.24 trillion.

Price appreciation in Airtel Africa, Julius Berger, Ardova, Lafarge Africa, and UACN drove the market's upward momentum.

Consequently, the stock market's month-to-date gains have increased to 2.5 percent, while year-to-date losses eased to 3.5 percent.

Overall, the market was positive with 29 stocks gainers relative to 16 losers.

Oando led the gainers’ chart in percentage terms with a growth of 9.82 percent to close at N4.36 per share.

FTN Cocoa Processors followed with 9.76 percent to close at 45kobo, while Ardova went up by 9.75 percent to close at N17.45 per share.

BOC Gases rose by 9.74 percent to close at N8.45, while Livestock Feeds gained 9.64 percent to close at N2.16 per share.

On the other hand, Universal Insurance led the losers’ chart in percentage terms by 9.09 percent to close at 20k per share.

Linkage Assurance followed with a decline of 7.14 percent to close at 65k, while Sovereign Trust Insurance lost 6.90 percent to close at 27k per share.

Africa Prudential lost 6.52 percent to close at N6.45, while Regency Alliance Insurance shed 6.25 percent to close at 45k per share.

Also, the total volume of trades rose by 7.08 percent as investors bought and sold 246.56 billion shares valued at N2.24 billion exchanged in 4,676 deals.

This was in contrast with a total of 230.25 million shares worth N2.31 billion traded in 4,135 deals on Friday.

Transactions in the shares of Fidelity Bank topped the activity chart with 30.54 million shares valued at N73.77 million.

Access Bank followed with 14.71 million shares worth N136.72 million, while United Bank for Africa traded 13.84 million shares valued at N108.65 million.

Guaranty Trust Bank Holding Company (GTCO) sold 12.76 million shares worth N378.32 million, while Wema Bank transacted 11.27 million shares valued at N9.81 million.

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