Equity Investors Gain N111bn as Nigerian Market Rebounds
Equity investors gained N111 billion on Thursday as the Nigerian Exchange (NGX) rebounded after losing N444 billion on Wednesday due to intense selloffs.
The Nigerian market’s positive movement pushed key market performance indicators upward by 12 basis points, and the year-to-date return also advanced.
The All-Share Index climbed by 174.66 basis points to close at 143,239.23, fuelled by renewed buying interest in selective medium and large-scale stocks, such as IKEJAHOTEL, MTNN, ACCESSCORP, VERITASKAP and others across key market sectors.
Stock market capitalisation gained ₦111.08 billion, representing an increase of 0.12%, settling at ₦91.10 trillion. However, the total volume of trades and the total value traded declined by -56.04% and -63.27%, respectively.
Stockbrokers reported that approximately 324.55 million units valued at ₦13,051.08 million were transacted across 18,328 deals.
Regarding volume, FIDELITYBK emerged as the most traded by generating 10.04%, followed by UBA (8.79%), GTCO (8.17%), ZENITHBANK (7.65%), and ACCESSCORP with 4.50%.
On value traded, GTCO generated 18.78% of the total value of all trades executed in the local bourse – the highest transaction value closed on the exchange.
IKEJAHOTEL and LINKASSURE topped gainers chart, up by +10.00%, followed by LEARNAFRICA (+9.96%), NCR (+9.96%), UNIONDICON (+9.52%), VERITASKAP (+8.82%), and twenty-seven others.
A total of nineteen stocks depreciated, according to trading data from the domestic bourse. With a price depreciation of -9.85%, CHAMPION topped the worst performers’ chart, followed by STERLINGNG (-8.33%), UPDC (-8.23%), CILEASING (-4.83%), GUINEAINS (-4.35%), and ROYALEX (-4.04%).
Given the trading direction, the market breadth closed on a positive note as there were 33 gainers and 19 losers and the sectoral performance was positive.
The Insurance sector increased by +1.27%, followed by the Consumer goods sector, up by +0.08%, and the banking sector rose by +0.07%. The Oil & Gas sector decreased by -0.04%, and the Industrial goods sector fell by -0.02%. Guinness Nigeria: Analysts See Upside Potential, Differ on TP
