GTBank, WAPCO fire up stock market as investors gain N642 billion

November 10, 2020
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GTbank, WAPCO, MTN and some other blue-chip companies fired the stock market at the end of trading on the floor of the Nigerian Stock Exchange as market capitalization value appreciated by N641.96 billion.

The All-Share Index (ASI) increased by 3.96% to close at 32,243.05 points. Similarly, the overall market capitalization size gained N641.96 billion to close at N16.847 trillion.

Also, the total volume traded increased to 636.01 million shares, worth N8.24billion, traded in 7,210 deals. Transactions in the shares of Zenith Bank topped the activity chart with 70.2 million shares valued at N1.66 billion. FBNH followed with 67.65 million shares worth N474.5 million.

The equities market breadth closed positive as 49 stocks posted gains while 11 stocks posted declines. WAPCO (+10.00%) led the gainer’s chart for the day, while NCR (-10.00%) finished the top loser.

Today’s market upturn was impacted by gains recorded in large and medium capitalized stocks which includes DANGCEM, WAPCO, MTN Nigeria, GTbank and Zenith Bank.

WAPCO was up by 10.00%  to close at N21.45, DANGCEM appreciated by 6.02% to close at N185, while GTbank also moved up by. 5.22% to close at N35.25. Others whose stock also appreciated are BUACEMENT up 4.42% to close at N44.9 and MTN Nigeria up 4.24% to close at N150.1.

NCR led the loser’s table as its stock price depreciated by 10.00% to close at N1.8,

LEARNAFRICA down 8.70% to close at N1.05, CONOIL down 6.30% to close at N17.85, PZ down 3.13% to close at N4.65 and AFRIPRUD which went down by1.45% to close at N6.11.

Nigerian Stocks were all fired up amid favorable market conditions seen across global financial markets, as Nigerian’s major export earning product (Crude oil) recorded impressive gains.

Buying pressure at Nigerian Stock Market at the first trading session got intensified, as institutional investors increased their buying pressure on Nigerian blue-chip stocks; not forgetting Dangote Cement with its recent impressive earning result, kept the bulls roaring high as market confidence across market spectrum improved.

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