Nigerian stock market maintains upward trajectory

Equities on the Nigerian stock market rose for the eight consecutive session Wednesday amid investors’ relentless interest in blue-chip stocks.

Buy pressure on large-cap and mid-cap stocks like GTB, Nigerian Breweries, CAP, Guinness and Flour Mills helped the market to close on an upbeat note.

The volume of trade closed higher than those recorded in the past couple of days as the market responded positively to the easing of lockdowns across locations in the country.

A negative market breadth was posted as 35 gainers emerged against 4 losers. The All Share Index (ASI) climbed up by 1.40% to close at 24,143.37 basis points. The market capitalisation rose to N12.582 trillion, gaining N174.096 billion in the process.

Nigerian Breweries led gainers today, growing by 10% to close at N33. Chi Plc gained 10% to close at N0.33. Ardova rose by 9.84% to N13.95. CAP leapt to N22.90, notching up 9.57% in the process. UACN Property completed the top 5, climbing up by 9.52% to N0.92.

C&I L topped the losers’ table today, declining by 6% to close at N4.70. UACN shrank by 3.47% to end the day at N6.95. Union Diagnostic fell to N0.31, losing 3.12%. International Breweries dipped to N4.90, recording 2% loss.

426.642 million shares worth N4.102 billion were traded today in 7,384 deals.

Zenith Bank was the most preferred stocks today with 91.923 million of its stocks worth N448.074 million traded in 454 deals. 63.389 million units of Zenith Bank shares priced at N994.763 million exchanged hands in 854 transactions.

Access Bank had 55.938 million shares valued at N365.490 million traded in 465 deals. GTB traded 45.884 million shares estimated at N1.048 billion in 550 transactions. Sterling Bank traded 24.778 million shares valued at N32.237 million in 1443 deals.