Equity Portfolio Value in Nigerian Market Grows to N94.32trn
The Nigerian Exchange (NGX) market capitalisation expanded to N94.32 trillion as equities investors’ portfolio value rose by 694 billion on Thursday.
The stock market expansion was fuelled by renewed interest in insurance stocks, among others, with additional drive from industrial and consumer goods indexes.
With second significant market rallies, the local bourse key performance indicators were boosted by 74 basis points with positive sentiment from PZ Cussons following the announcement reversing a decision to exit African markets.
The market recorded positive price movement in MTNN, DANGSUGAR, PZ, BERGER, among others. Specifically, the market index added 1,088.59 basis points to close at 147,950.59.
However, market activities were down, as the total volume of all trades executed in the local bourse and their total value declined by -29.10% and -0.90%, respectively.
Stockbrokers reported that approximately 529.70 million units valued at ₦12,313.66 million were transacted across 18,159 deals in the Nigerian bourse.
ACCESSCORP was the volume driver, accounting for 29.73% of trading units executed in the market, followed by FCMB (14.18%), FIDELITYBK (8.17%), JAPAULGOLD (7.83%), and ZENITHBANK with 3.87%.
Also, ACCESSCORP topped the value chart, accounting for 25.76% of the total value of all trades closed on NGX. JAPAULGOLD and BERGER were top performers, gaining +9.88%, followed by MORISON (+9.77%), PZ (+9.36%), LEGENDINT (+8.91%), MECURE (+8.74%), and twenty-five others.
A total of twenty-three stocks depreciated in the Nigerian bourse, according to trading data. With a price depreciation of -9.26%, JOHNHOLT topped the worst performers’ chart, followed by CHAMPION (-7.86%), ETERNA (-5.48%), VFDGROUP (-5.07%), TIP (-4.80%), and CWG (-3.50%).
Hence, the market breadth closed on a positive note, as there were 31 gainers and 23 losers.
Sectoral performance was positive. The Insurance sector increased by +2.99%, followed by the Consumer goods sector, which advanced by +1.15%. The Industrial goods sector was up by +0.01%, but the Banking sector and the Oil & Gas sector declined by -0.35% and -0.03%, respectively.
PZ’s Strategic Re-Orientation Catalyses Renewed Market Confidence
