Stock Market Advances By N6bn

Stock Market Advances By N6bn

1/26/2022 10:43:00 AM

Stock Market Advances By N6bn

The Nigerian stock market gained N6 billion, even as Monetary Policy Committee (MPC) maintained status quo. The MPC voted unanimously to maintain the

ADVERTISEMENTAs measured by market breadth, market sentiment was positive as 20 stocks gained relative to 15 losers. Courteville Business Solutions recorded the highest price gain of 10 per cent to close at 55 kobo, per share. ETI followed with a gain 9.94 per cent to close at N9.95, while Academy Press rose by 9.72 per cent to close at 79 kobo, per share.

Champion Breweries went up by 8.05 per cent to close at N2.55, while Regency Alliance Insurance appreciated by 5.26 per cent to close at 40 kobo, per share. On the other hand, C & I Leasing led the losers’ chart by 10 per cent to close at N3.78, per share. Prestige Assurance followed with a decline of 9.80 per cent to close at 46 kobo, while Cornerstone Insurance shed 3.77 per cent to close at 51 kobo, per share.

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“Consequently, we see scope for the market to sustain the positive performance in Q1, 2022, given investors’ positioning in dividend-paying stocks ahead of 2021 full year dividend declarations and bargain hunting activities in value stocks with sound fundamentals.” ADVERTISEMENT As measured by market breadth, market sentiment was positive as 20 stocks gained relative to 15 losers. Courteville Business Solutions recorded the highest price gain of 10 per cent to close at 55 kobo, per share. ETI followed with a gain 9.94 per cent to close at N9.95, while Academy Press rose by 9.72 per cent to close at 79 kobo, per share. Champion Breweries went up by 8.05 per cent to close at N2.55, while Regency Alliance Insurance appreciated by 5.26 per cent to close at 40 kobo, per share. On the other hand, C & I Leasing led the losers’ chart by 10 per cent to close at N3.78, per share. Prestige Assurance followed with a decline of 9.80 per cent to close at 46 kobo, while Cornerstone Insurance shed 3.77 per cent to close at 51 kobo, per share. Mutual Benefits Assurance lost 3.70 per cent to close at 26 kobo, while UPDC Real Estate Investment Trust (UPDC) shed 3.45 per cent to close at N1.12, per share. However, the total volume traded decreased by 11.10 per cent to 247.694 million units, valued at N3.577 billion, and exchanged in 4,242 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 24.519 million shares valued at N625.346 million. Courteville Business Solutions followed with 21.426 million shares worth N11.764 million, while Transnational Corporation of Nigeria (Transcorp) traded 20.440 million shares valued at N21.649 million. Zenith Bank traded 17.318 million shares valued at N440.520 million, while Chams transacted 16.556 million shares worth N3.331 million. ADVERTISEMENT