NGX Climbs by N13.5bn, Investors Rebalance Portfolio
The Nigerian Exchange (NGX) market capitalisation swelled as equities investors gained about N14 billion on Tuesday amidst year end portfolio rebalancing.
The local bourse closed trading activities on a positive note with key market performance indicators jumping by 0.01%.
The slight uptick was triggered by bargain hunting as investors traded with caution in selective stocks, trading data obtained from the NGX showed.
The market recorded price upticks in GUINNESS, MECURE, CUSTODIAN, FIRSTHOLDCO, EUNISELL and others, with investors showing interest across key market sectors.
The NGX All-Share Index specifically added 21.23 basis points in today’s trading session, reflecting a 0.01% increase to close at 149,459.11. Also, NGX market capitalisation gained ₦13.53 billion to settle at ₦95.28 trillion.
Total volume of all trades transacted in the local bourse rose by +85.52%, while their total value increased by +64.48% respectively. Stockbrokers reported that approximately 1,026.22 million units valued at ₦21,826.32 million were transacted across 23,701 deals.
ACCESSCORP drove volume, accounting for 42.41% of all trades consummated, followed by STERLINGNG (9.40%), FCMB (8.21%), FIRSTHOLDCO (5.71%), and AIICO with 4.03%.
On value traded, ACCESSCORP generated 38.26% of the total value of trade, thereby making it the highest traded on the exchange.
ALEX topped gainers chart, up by +10.00%, trailed by GUINNESS (+9.98%), MULTIVERSE (+9.95%), MECURE (+9.95%), SOVRENINS (+9.9%), SUNUASSUR (+7.96%), and twenty-five others.
A total of twenty-six (26) stocks depreciated. With a price depreciation of -9.93%, HMCALL topped the worst performers’ chart, followed by LIVINGTRUST (-9.09%), VERITASKAP (-9.09%), LINKASSURE (-5.71%), CHAMPION (-5.63%), and DAARCOMM (-5.26%).
Hence, the market breadth closed on a positive note as there were 31 gainers and 26 losers.
Sectoral performance was mixed: Insurance topped gains with a 0.36% rally, followed by Consumer Goods rising 0.21%. Banking, Industrial, and Oil & Gas fell by 0.28%, 0.10%, and 0.09% respectively, while the Commodity sector remained flat.
Trading activity displayed divergent trends as share volume jumped 85.52% to 1.03 billion units and transaction value increased significantly by 64.48% to ₦21.83 billion, whereas deal count declined 18.01% to 23,701 transactions. Cordros Marks GTCO Top Pick, Cites Superior Earnings Quality
