Unity Bank Trades N12.7bn shares as Bulls Resurface with N279.4bn growth

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BY BONNY AMADI

The NGX Equities market rebounded on Thursday, breaking the week’s bearish trend as the All-Share Index rose 0.31% to 141,149.04 points. Unity Bank polled the highest volume of traded stocks, accounting for 77 per cent of combined volumes of top five traded stocks.

This lifted year-to-date gains to 37.14% and added N279.37 billion to market capitalization, reaching N89.34 trillion.

Market sentiment turned positive with 33 gainers versus 22 decliners, creating a favourable 1.5x breadth ratio. MECURE, OANDO, MCNICHOLS, CHAMS, and LEGENDINT topped the gainers’ list, while ETERNA, SOVRENINS, TIP, CAVERTON, and FIDSON led decliners.

Sector performance was mixed. Banking (+1.02%), Oil & Gas (+0.74%), and Consumer Goods (+0.31%) sectors advanced, while Insurance declined 0.41%. Industrial and Commodity sectors remained unchanged.

Trading activity surged dramatically with share volume jumping 1,137.15% to 5.48 billion units and transaction values soaring 2,373.24% to N419.73 billion. However, the number of deals decreased 8.34% to 20,399 transactions, suggesting fewer but larger-sized trades dominated the session.

Top five gainers

FGSUK2027S3 led the day as the highest gain-er with N12.99 or 17.32 per cent growth to close at N88.00 per unit, followed by LOTUSHAL15 with N7.58 or 9.99 per cent rise in price, closing at N83.45 per share, while MECURE closed third in the group at N26.10 per share, having appreciated by N2.35 or 9.89 per cent.

OANDO gained N4.25 or 9.50 per cent to close at N49.00 per share while MCNICHOLS closed the top five gainers group at N3.64 per share, having grown by N0.31 or 9.31per cent.

Worst five losers

ETERNA led the day as the worst loser stock with N3.10 or 10.00 per cent dip in price to end the day at N27.90 per share, followed by SOVRENINS with N0.15 or 4.84 per cent decline in price to end the day at N2.95, while TIP closed third in the group at N12.02 per share, having declined by N0.48 or 3.84 per cent.

CAVERTON lost N0.25 or 3.76 percent of its share price to close the session at N6.40, while FIDSON closed at N41.40 per share, following a depression by N1.60 or 3.72 per cent.

Top five trades

UNITY BANK led the day as the highest traded stock measured by volume and value with turnover of 4,001,377,211.00 billion shares worth N 12,724,350,980.94 billion, followed by ARADEL, CONHALL PLC, STERLINGNG and ZENITHBANK.