Nigerian Stocks Close 2021 on High Note, Gain 2.16% on Last Day

Nigerian Stocks Close 2021 on High Note, Gain 2.16% on Last Day

By Dipo Olowookere

The last trading session of 2021 on the Nigerian Exchange (NGX) Limited ended on a high note with a 2.16 per cent growth on Friday, December 31.

The growth recorded by Nigerian stocks was triggered by bargain hunting in Nestle Nigeria, MTN Nigeria and a few other blue-chip equities on the trading platform.

This consequently raised the All-Share Index (ASI) by 903.17 points to 42,716.44 points from 41,813.27 points and pushed the market capitalisation higher by N528 billion to N21.297 trillion from N21.825 trillion.

Business Post reports that Royal Exchange and Nestle Nigeria grew yesterday by 10.00 per cent each to settle at 88 kobo and N1,556.50 respectively.

UPDC REIT appreciated by 9.88 per cent to N4.45, Stanbic IBTC rose by 9.60 per cent to N68.50, while Skyway Aviation improved by 8.61 per cent to N5.30.

On the flip side, NEM Insurance finished as the worst-performing stock with a depreciation of 10.00 per cent to trade at N4.50.

Wema Bank lost 8.86 per cent to sell for 72 kobo, Jaiz Bank went down by 5.08 per cent to 56 kobo, Champion Breweries fell by 4.08 per cent to N2.35, while Transcorp deflated by 3.03 per cent to 96 kobo.

At the market on Friday, investors traded 455.2 million shares worth N9.9 billion in 2,829 deals compared with the 360.0 million shares worth N1.8 billion transacted in 3,607 deals on Thursday, indicating an increase in the trading volume and value by 26.46 per cent and 435.99 per cent respectively and a 21.57 per cent decline in the number of deals.

A look at the performance of the sectors showed that only the insurance sector closed bearish yesterday, losing 0.11 per cent at the close of transactions.

The consumer goods space rose by 6.69 per cent, the banking sector appreciated by 0.66 per cent, the energy counter improved by 0.21 per cent, and the industrial goods sector rose by 0.07 per cent. PFAs to Submit Micro Pension Media Campaign Plan by January 31

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