Equities Investors Gain N71 billion in Nigerian Cold Market
Equities investors gained about N71 billion in Nigerian cold stock market trading, with a soft rebound recorded on Wednesday from the previous day’s sell pressure.
The Nigerian Exchange closed trading activities for today in positive territory, as key market performance indicators inched higher marginally by 0.04%.
The rebound was driven by renewed bargain hunting in selective medium- and large-cap stocks, including FIRSTHOLDCO, FCMB, NESTLE, MCNICHOLS, among others.
The Nigerian Exchange All-Share Index added 109.41 basis points to close at 244,912.24. Also, market capitalisation increased by ₦70.62 billion, representing a growth of 0.04%, settling at ₦158.09 trillion.
However, the total volume and the total value of all transactions executed in the local bourse declined by 47.25% and 11.34%, respectively. Stockbrokers reported that approximately 824.06 million units valued at ₦25,473.27 million were transacted across 48,114 deals.
FCMB led the volume chart, accounting for 44.88% of all units traded in the market, followed by CHAMS (5.67%), FIRSTHOLDCO (5.28%), ACCESSCORP (3.62%), and LINKASSURE (2.38%).
FIRSTHOLDCO topped the value chart, accounting for 22.37% of the transaction value executed on the domestic stock exchange, making it the most traded on the exchange.
LINKASSURE led the gainers chart, up by +9.94%, trailed by AVACAP (+9.55%), FTGINSURE (+7.69%), MCNICHOLS (+7.34%), WAPIC (+5.51%), FIRSTHOLDCO (+5.38%), and fourteen others.
Stockbrokers reported that a total of twenty-nine stocks depreciated in the market today.
With a price depreciation of -9.94% each, HONYFLOUR and PZ topped the worst performers’ chart, followed by ZICHIS (-9.74%), LEARNAFRCA (-9.62%), NEIMETH (-8.33%), AFRIPRUD (-7.75%), and LEGENDINT (-7.69%).
Hence, market breadth closed on a negative note, with 20 gainers and 29 losers. Sectoral performance was flat today as two of the five major market sectors increased, two declined, and one remained unchanged.
The Banking sector and the Insurance sector increased by +0.69% each. The Consumer goods sector and the Oil & Gas sector declined by -0.41% and -0.005%, respectively, while the Industrial goods sector remained unchanged. AI, Tech Stocks Drive Wall St. to Record High, European Markets Rally
