Aradel, Eunisell, John Holt lead stock rally as investors gain N83bn in opening week

Onome Amuge

Investors in the Nigerian stock market had a profitable start to the week, with the Nigerian Exchange Group (NGX) reporting gains of N83 billion on Monday, November 11, 2024. 

The positive performance was driven by a rise in the share prices of various stocks, including Aradel, Eunisell, and John Holt. 

 Following the surge in share prices, the NGX saw a corresponding rise in its equity capitalisation, increasing by N84 billion to N59.004 trillion, compared to N58.920 trillion recorded last Friday.

Reflecting the positive sentiment in the market, the benchmark All-Share Index (ASI) also experienced an uptick, growing by 137.75 points to 97,373.94 points, compared to the previous day’s close of 97,236.19 points.

The market was generally upbeat, with more stocks advancing than declining. 23 stocks experienced gains, while 27 declined, and the remaining 72 stocks remained unchanged. The overall market activity was strong, with 9,902 deals recorded.

EUNISELL, ARADEL, and JOHNHOLT were among the top gainers for the day, with share prices rising by 10 percent, 9.99 percent, and 9.98 percent respectively.

On the other hand, the day’s losers were led by UCAP, SOVRENINS, and PRESTIGE, with 9.78 percent, 7.25 percent, and 6.67 percent decreases in share prices respectively.

UCAP closed at N16.15, down from its previous price of N17.90. SOVRENINS shares fell to N0.64, from its earlier price of N0.69, while PRESTIGE declined to N0.56, from its previous price of N0.60.

 STERLINGNG took the lead in terms of trading volume, with 36 million shares exchanged in 168 deals, closely followed by UBA which traded 33 million shares in 876 deals.

ACCESSCORP was also a notable player, recording 24 million shares traded in 614 deals.

UBA emerged as the stock with the highest value traded, with equities worth a massive N1 billion exchanged in 876 deals.

ARADEL followed closely with a traded value of N1 billion in 323 deals, while FLOURMILL traded shares worth N977 million in 61 deals.