Nigerian stocks conclude seven-day rally as investors take profit

nigerian-stocks-conclude-seven-day-rally-as-investors-take-profit

The user items index used to be the worst hit of the 5 sector indexes tracked by the bourse as it tapered by 2.53 per cent.

Nigerian stocks cringed by 0.71 per cent on Monday in their first pullback in one week as investors pocketed gains that had heaped up all around the duration.

The retreat used to be popularity in motion by promote-offs in the shares of FBN Holdings, which has dominated switch for the previous few days, supported by profit-taking actions in the shares of Nestle and United Capital.

The user items index used to be the worst hit of the 5 sector indexes tracked by the bourse as it tapered by 2.53 per cent.

Market breadth, an indicator of investor self perception in the market, used to be detrimental as 21 laggards were reported compared with 19 gainers.

“We seek knowledge from the recent rally to be sustained as market contributors rely on a solid Q3-2021 earnings season,” analysts at dealer United Capital acknowledged of the present week in a display viewed by PREMIUM TIMES.

The all-piece index fell 293.48 aspects to conclude at 41,144.67, while market capitalisation dropped to N21.5 trillion.

Year to this level, the index is up by 2.17 per cent.

TOP FIVE GAINERS

NGXGroup led gainers, appreciating by 9.86 per cent to conclude at N19.5. Ikeja Hotels grew by 9.52 per cent to shut switch at N1.15. Custodian went up by 7.53 per cent to N7.85. Honeywell rose to N3.78, notching up 6.48 per cent in the center of. Chams climbed up by 4.55 per cent to N0.23.

TOP FIVE LOSERS

Would possibly well well & Baker topped the losers’ chart declining by 8.02 per cent to conclude at N4.36. Royal Substitute shed 7.81 per cent to shut on the present time’s switch at N0.59. NPF Microfinance Bank fell to N1.71, losing 7.57 per cent in the center of. FBNH Holdings dipped to N11.75, recording 7.48 per cent depreciation. Mutual Advantages closed at N0.28, going down by 6.67 per cent.

TOP FIVE TRADES

Altogether, 338.7 million shares estimated at N4.1 billion were traded in 5,866 deals.

FBN Holdings used to be basically the most filled with life stock trading with 67.6 million shares price N832.8 million traded in 718 deals. Bag entry to Bank’s shares of 36.6 million units priced at N351.2 million exchanged hands in 298 transactions. Transcorp had 26.5 million shares valued at N26.6 million traded in 240 deals. GTCO traded 25.6 million shares estimated at N755.2 million in 267 transactions. Constancy traded 19.5 million shares valued at N53.3 million in 196 deals.

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