Investors Gain N3.4T as Capital Rotates to Banking, Energy Stocks
Equities investors gained about N3.4 trillion in the Nigerian Exchange (NGX) on Friday on strong sectoral performance led by the banking, energy stocks,
The market, for the ninth trading session, sustained its positive momentum on strong buying across all key sectors, with the Banking and Oil & Gas sectors leading the charge, posting impressive 3.64% and 3.29% increases, respectively.
The All-Share Index climbed 5,266.56 basis points in today’s trading session, reflecting a 2.49% increase to close at 217,167.57 points. Likewise, market capitalisation increased by ₦3,390.69 billion, representing a 2.49% growth, settling at ₦139.83 trillion.
Furthermore, market activity was up today. Total volume of all trades and total value traded increased by 115.08% and 56.37%, respectively.
Stockbrokers reported that approximately 1,258.15 million units valued at ₦54,353.49 million were transacted across 56,923 deals.
STERLINGNG topped the volume chart, accounting for 30.57% of all units executed in the local bourse, followed by ACCESSCORP (7.19%), ZENITHBANK (5.64%), UBA (4.35%), and JAPAULGOLD with 3.54%.
ARADEL topped the value chart, accounting for 17.98% of all trades executed, making it the most traded on the exchange.
NAHCO and TRANSEXPR topped the gainers’ chart, up by +10.00% each, trailed by ETI (+9.97%), ACCESSCORP (+9.93%), DAARCOMM (+9.64%), FIRSTHOLDCO (+9.50%), MCNICHOLS (+9.35%), and thirty-six others.
A total of twenty-seven stocks depreciated. With a price depreciation of -9.96%, MECURE topped the worst performers’ chart, followed by HONYFLOUR (-9.52%), ABBEYBDS (-9.50%), ETRANZACT (-9.27%), CAVERTON (-9.02%), and UPDC (-8.16%).
Hence, the market breadth closed on a positive note, with 43 gainers and 27 losers. Sectoral performance was positive today, with all five major market sectors rising.
The Banking sector appreciated by 3.64%, followed by the Oil & Gas sector (+3.29%), the Consumer goods sector (+1.23%), the Industrial goods sector (+0.68 %), and the Insurance sector (+0.37%).
