FCMB, FirstHoldco Drive NGX Rally, Equity Investors Gain N232bn
With FCMB, FirstHoldco leading the banking sector rally, the Nigerian stock market closed in green on Thursday, recovering from price swings that plunged the local bourse the previous day.
The Nigerian Exchange (NGX) benchmark index gained 0.22% to settle at 165,527.31 points, with market capitalisation rising by N232.3 billion to close at N106.0 trillion.
This positive performance stemmed from price appreciation in INTBREW (+3.57%), and demand in lending tickers – FIRSTHOLDCO (+3.26%), FCMB (+4.98%), and ZENITHBANK (+0.49%).
Stockbrokers reported that market sentiment was similarly positive, with market breadth settling at 1.48x as 40 gainers outpaced 27 losers. RTBRISCOE (+10.00%) topped the list of winners in today’s session, while HMCALL (-9.84%) championed the laggards.
Activity metrics results diverged today, with total volume increasing by 10.95% to 691.4 million units, while value traded decreased by 7.07% to settle at N15.4 billion.
VERITASKAP topped the volume chart with 56.6 million units traded. The number of shares transacted accounted for 8.19% of the total volume traded in the stock market today.
GTCO dominated the value log with trades worth N2.6 billion, accounting 16.74% of total value traded in the market, according to data from the Nigerian Exchange.
Sectoral performance ended with a bullish tilt, with four indices posting gains in today’s session. The Banking (+0.68%) and Insurance (+0.64%) indices led the charge, driven by sustained demand in FIRSTHOLDCO (+3.26%) and NEM (+6.49%), respectively.
Similarly, the Consumer Goods (+0.46%) and Oil & Gas (+0.10%) Indices both closed higher, inspired by price upticks in INTBREW (+3.57%) and OANDO (+2.15%), respectively. Dangote Fertilizer Strengthens Governance Ahead of Market Debut
