Amaechi Raphael Chinedu
@Official_ARC·1h
Banks lifted the NGX 0.19%, but Eterna gave back almost 10% after its big profit jump
Wednesday's close: the All-Share Index rose 0.19% (+473.46 pts) to 254,762.81, its second gain in a row and about ten times Tuesday's move. The market is worth ₦165.42trn and is up 63.72% this year.
This time more stocks rose than fell, 27 against 23, after two sessions where losers outnumbered gainers.
1. Banks did most of the work. 
$GTCO rose 5.13% to ₦123.00, UBA gained 2.68% to ₦42.10, Zenith Bank added 2.65% to ₦120.00 and Fidelity Bank rose 1.69% to ₦24.00. The Banking Index finished 0.72% higher.
2. 
$ETERNA fell 9.94% to ₦38.50, close to the daily limit. This morning we looked at how its nine-month profit grew more than sevenfold, mostly from a small margin change. Strong results don't stop a stock from falling the next day, especially one already up about 50% this year. Only about 758,000 Eterna shares changed hands, so a small amount of selling moved the price a lot.
3. 
$VITAFOAM finally held still at ₦141.50 after two straight days at the 10% limit-down.
Top gainers: Transcorp Power (+9.97% to ₦203.00), Caverton (+9.84% to ₦3.35), eTranzact (+9.68% to ₦17.00). Top losers: Eterna (-9.94% to ₦38.50), Sovereign Trust Insurance (-9.91% to ₦1.91), Learn Africa (-9.84% to ₦8.25).
Trading: 552.31m shares worth ₦37.46bn across 32,874 deals. Value traded jumped about 66% even though there were fewer deals, which usually means bigger trades in pricier stocks like the banks.
Why it matters: the index moved by less than a fifth of a percent, yet some stocks moved almost 10% either way. Your own portfolio can have a very different day from the headline.
Add your portfolio on Gopexly to see how today actually treated you.
Not financial advice, just the close.
$GTCO rose 5.13% to ₦123.00, UBA gained 2.68% to ₦42.10, Zenith Bank added 2.65% to ₦120.00 and Fidelity Bank rose 1.69% to ₦24.00. The Banking Index finished 0.72% higher.
2. $ETERNA fell 9.94% to ₦38.50, close to the daily limit. This morning we looked at how its nine-month profit grew more than sevenfold, mostly from a small margin change. Strong results don't stop a stock from falling the next day, especially one already up about 50% this year. Only about 758,000 Eterna shares changed hands, so a small amount of selling moved the price a lot.
3. $VITAFOAM finally held still at ₦141.50 after two straight days at the 10% limit-down.
Top gainers: Transcorp Power (+9.97% to ₦203.00), Caverton (+9.84% to ₦3.35), eTranzact (+9.68% to ₦17.00). Top losers: Eterna (-9.94% to ₦38.50), Sovereign Trust Insurance (-9.91% to ₦1.91), Learn Africa (-9.84% to ₦8.25).
Trading: 552.31m shares worth ₦37.46bn across 32,874 deals. Value traded jumped about 66% even though there were fewer deals, which usually means bigger trades in pricier stocks like the banks.
Why it matters: the index moved by less than a fifth of a percent, yet some stocks moved almost 10% either way. Your own portfolio can have a very different day from the headline.
Add your portfolio on Gopexly to see how today actually treated you.
Not financial advice, just the close.0 views
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