Stock market extends weekly gains, returns 1.06% WtD

The Nigerian stock market last week closed on a bullish note with 1.06% growth, following 2.13% growth in the previous week. This is triggered by renewed buy interest by smart investors, most of who are positioning for mouthwatering dividends proposed in the 2022 full year results.

Year to date, the market has returned 8.35% with the All Share Index and Market Capitalisation at 55,529.21 points and N30.250 trillion respectively.

An aggregate of 1.9 billion units of shares in 20,308 deals, valued at N18.44 billion.

The market breadth closed positive as 53 equities emerged as gainers while 21 equities declined in their share prices.

TOP 10 GAINERS

GEREGU led 52 other gainers in the course of last week as it gained 27.45% to close at N325.00 from the previous close of N255.00.

C & I Leasing, MCNICHOLS, Sunu Assurance and STANBIC IBTC grew their share prices by 20.61%, 19.70%, 18.92% and 18.84% respectively.

Others among top 10 gainers include: THE INITIATE 18.18%, OANDO 18.00%, MRS 12.93%, Dangote Sugar 11.63% and NASCON 10.92% respectively.

TOP 10 LOSERS

CHAMS led other price decliners as it shed 10.71% of its share price to close at N0.25 from the previous close of N0.28.

MULTIVERSE, JOHNHOLT, SEPLAT and Ecobank among other price decliners shed their share prices by 10.00%, 9.66%, 9.43% and 7.69% respectively.

Others among top 10 price decliners include: WAPIC (6.82%), UACN (5.56%), UCAP (5.50%), LASACO (4.76%) and Airtel Africa (4.40%) respectively.

Source: Stock market extends weekly gains, returns 1.06% WtD – StocksWatch (stocksng.com)

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