NGX Tops N147trn as Bua, Aradel Rally, Investors Gain N3.3trn
The Nigerian Exchange (NGX) soared on Tuesday, recovering from profit-taking activities as BUA Foods, Aradel Holdings, Dangote Cement, among others, rallied.
The local bourse closed trading activities for today in positive territory, as key market performance indicators – the All-share index and market capitalisation) appreciated by 2.30%.
Offsetting the losses recorded in the previous session, the market’s rebound was triggered by renewed positive sentiment, reflected in fresh buying interest in mid-cap and bellwether stocks, as strategic positioning continued.
The Industrial goods and Oil & gas sectors posted gains of +4.86% and +4.66%, respectively, contributing the most to the performance, as WAPCO, ARADEL, BUACEMENT, DANGCEM, and others recorded significant price appreciation.
Specifically, the market index added 5,137.90 basis points in today’s trading session, reflecting a 2.30% increase to close at 228,740.19. With the positive sentiment, the NGX market cap rose ₦3,308.12 billion to close at ₦147.28 trillion.
Stockbrokers reported that the total volume of all trades and the total value traded increased by +33.88% and 54.61%, respectively. In its market update, Atlass Portfolio Limited told investors that approximately 907.96 million units valued at ₦68,238.50 million were transacted across 72,886 deals.
ACCESSCORP accounted for 25.48% total volume traded in the local bourse, followed by FIDELITYBK (6.99%), WEMABANK (5.74%), LINKASSURE (4.99%), and ZENITHBANK (4.36%).
Nestlé accounted for 21.69% of the total value of all stocks traded in the local bourse, making it the most traded on the exchange.
FTNCOCOA, IMG, and WAPCO led the gainers chart, up +10.00% each, followed by AUSTINLAZ (+9.71%), ARADEL (+9.52%), PRESCO (+9.52%), TIP (+9.27%), BUAFOODS (+8.65%), and 31 others.
A total of forty stocks depreciated. With a price depreciation of -10.00%, UBA topped the worst performers’ chart, followed by TRANSEXPR (-9.99%), NASCON (-9.18%), JAIZBANK (-8.98%), BERGER (-8.66%), and MCNICHOLS (-8.18%).
Hence, the market breadth closed on a negative note, with 39 gainers and 40 losers. The sectoral performance was positive today, with three of the five major market sectors rising.
The Industrial goods sector appreciated by +4.86%, followed by the Oil & Gas sector (+4.66%), and the Consumer goods sector (+2.74%). The Banking and Insurance sectors declined by -1.38% and -0.20%, respectively. Nairobi Index Dips on Longhorn, Kenya Airways Shares Selloffs
