Equities Market Expands Near N124trn, Investors Gain N1.7trn
Nigerian Exchange (NGX) market capitalisation climbed near N124 trillion on Thursday as equities investors’ portfolio value surged by about N1.7 trillion.
Trading activities on the platform closed in green, and key market performance indicators appreciated by 1.39%. The market uptick reflected positive trading sentiment, resulting in sustained buying interest in mid-cap and blue-chip stocks.
Among the top gainers are counters like OKOMUOIL, STANBIC, PRESCO, VITAFOAM, FIRSTHOLDCO, among others, across major market sectors.
The All-Share Index added 2,645.61 basis points, reflecting a 1.39% increase to close at 193,073.57, while Market Capitalization gained ₦1,698.23 billion to close at ₦123.93 trillion.
Total volume of shares traded and their total value declined by -75.51% and -37.82% respectively. Stockbrokers at Atlass Portfolio Limited reported that approximately 898.48 million units valued at ₦38,476.39 million were transacted across 61,953 deals.
JAPAULGOLD led in terms of numbers of shares traded, accounting for 8.96% of all volume, followed by NSLTECH (8.03%), MBENEFIT (6.56%), ZENITHBANK (5.95%), and GTCO with 5.89%.
GTCO topped value chart, accounting for 16.16% of the total value of all trades executed.
Topping the gainers chart, DEAPCAP, FTGINSURE, OKOMUOIL led with +10.00% price appreciation each, trailed by INFINITY (+9.96%), ZICHIS (+9.96%), JAPAULGOLD (+9.91%), MBENEFIT (+9.80%), SKYAVN (+9.52%), and forty-three others.
A total of twenty-five stocks depreciated in the local bourse. With a price depreciation of -10.00% each, MCNICHOLS, MULTIVERSE, NSLTECH, and TRIPPLEG topped the worst performers’ chart. Other decliners include MEYER (-9.80%), JOHNHOLT (-9.43%), OMATEK (-8.95%), MANSARD (-7.92%), and FTNCOCOA (-7.87%).
Hence, the market breadth closed on a positive note as there were 51 gainers and 25 losers. Sectoral performance was positive. The banking sector increased by +2.62%, followed by the Consumer goods sector (+0.54%), the Insurance sector (+0.50%), and the industrial goods sector (+0.29%). Only the Oil & Gas sector declined by -0.11%. Sterling Confirms Recapitalisation of Two Banking Subsidiaries
