MON 08 NOV 2021-theGBJournal- Trading in the Nigerian equities started the week with bullish sentiments, as investor’s significant buying activities in bellwether stocks – MTNN (+9.2%) and AIRTELAFRI (+10.0%) drove the benchmark index higher by 2.9% to 43,246.87 points – the highest single-day gain since 12th November 2020 (+6.2%).
Accordingly, Month-to-Date and Year-to-Date gains increased to +2.9% and +7.4%, respectively.
The total volume of trades increased by 57.1% to 453.25 million units, valued at NGN5.01 billion, and exchanged in 5,140 deals. STERLNBANK was the most traded stock by volume at 81.23 million units, while ZENITHBANK was the most traded stock by value at NGN797.35 million.
On sectors, the Insurance (-1.4%), Oil and Gas (-0.6%), and Banking (-0.1%) indices declined, while the Consumer Goods (+0.3%) and Industrial Goods (+0.1%) indices recorded gains.
As measured by market breadth, market sentiment was negative (0.7x), as 25 tickers declined, relative to 17 gainers. CONOIL (-9.8%) and CWG (-9.7%) topped the losers’ list, while AIRTELAFRI (+10.0%) and REDSTAREX (+9.9%) recorded the most significant gains of the day.
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