The report showed an impressive growth at 5.01 per cent and boosted optimism that the economy could attain its pre-pandemic level earlier than forecasted.
Nigerian stocks found resilience on Thursday as the benchmark index strengthened 0.07 per cent the same day the statistics office issued the gross domestic product figures of Africa’s largest economy for the three months to June
The report showed an impressive growth at 5.01 per cent and boosted optimism that the economy could attain its pre-pandemic level earlier than forecasted.
Eterna, UPDC and Honeywell led the charge, with the insurance index providing support at sector level, rising 2.33 per cent.
Market breadth, which measures investor sentiment, was positive as 27 gainers emerged compared to 12 losers, the rest 65 participating stocks did not budge.
The all-share index lifted 27.36 points to 39,477.18. Similarly, market capitalisation climbed to N20.6 trillion.
Year to date, the index is down by 1.97 per cent.
TOP FIVE GAINERS
Eterna led gainers, appreciating by 9.97 per cent to close at N7.50. UPDC added 9.74 per cent to end today’s trade at N1.69. AIICO went up by 8.42 per cent to N1.03. GSK rose to N6.80, notching up 7.94 per cent in the process. Honeywell completed the top 5, climbing by 7.45 per cent to N3.46.
TOP FIVE LOSERS
Ikeja Hotel was the worst-performing stock, declining by 10 per cent to close at N1.26. SCOA shed 9.43 per cent to close at N1.44. ABC Transport fell to N0.33, losing 8.33 per cent. Champion Breweries dipped to N2.10, recording 4.55 per cent depreciation. Japaul Gold closed at N0.50, going down by 3.85 per cent.
TOP 5 TRADES
In all, 186.3 million shares estimated at N1.8 billion were traded today in 3,595 deals.
Sovereign Trust was the most active stock with 19.7 million units of its shares worth N4.6 million traded in 34 deals. WAPCO shares of 17.4 million units, priced at N382.4 million, exchanged hands in 140 transactions. Honeywell traded 15 million shares estimated at N52.4 million in 217 transactions. Mutual Benefits traded 14.7 million shares valued at N4.5 million in 37 deals. UPDC had 10.4 million shares valued at N17.3 million traded in 120 deals.
SOURCE: https://www.premiumtimesng.com/news/more-news/481476-nigerian-stocks-rebound-after-positive-gdp-report.html
