Equities Investors Gain N306bn as Nigerian Market Rebounds

Equities Investors Gain N306bn as Nigerian Market Rebounds

Equities investors gained about N306 billion as the Nigerian stock market rebounded after two weeks of decline.  The Nigerian equity market closed on a positive note, with key market indicators up 0.20%.

The market witnessed selective buying interest in mid-cap and blue-chip stocks across key sectors, particularly the Banking sector, which lifted overall market sentiment.

FIRSTHOLDCO, ACCESSCORP, and UBA, among others, recorded notable price gains.  Hence, the Nigerian Exchange (NGX) All-Share Index (ASI) added 473.17 basis points in today’s trading session to close at 239,156.09.

Also, the market capitalisation of all listed stocks edged higher by ₦305.56 billion, closing at ₦154.44 trillion. Data from the Nigerian Exchange revealed that the total trading volume declined by 31.83%, while the total value of transactions increased by 1.80%.

Stockbrokers reported that approximately 499.96 million units, valued at ₦35,147.07 million, were transacted in 40,323 deals.

ZENITHBANK topped the volume chart, accounting for 14.06% of all shares traded in the market, followed by ACCESSCORP (9.12%), GTCO (7.53%), STERLINGNG (7.48%), and WAPIC (4.88%).

Also, ZENITHBANK led the value chart, accounting for 23.37% of the total transaction value of all shares traded on the exchange, making it the most traded.

OMATEK topped the gainers chart, up by +9.60%, trailed by CORNERST (+9.18%), MANSARD (+9.09%), ABBEYBANK (+6.25%), FIRSTHOLDCO (+4.65%), ACCESSCORP (+4.36%), and thirteen others.

A total of 38 stocks depreciated on the Nigerian Exchange, reflecting tighter investor sentiment.

With a price depreciation of -9.98%, FIDSON topped the worst performers’ chart, followed by LEARNAFRICA (-9.84%), INTENEGINS (-9.84%), DAARCOMM (-8.61%), LEGENDINT (-8.43%), and IKEJAHOTEL (-7.86%).

Hence, market breadth closed on a negative note, with 19 gainers and 38 losers. Sectoral performance was negative today, with three of the five major market sectors declining.

The Consumer goods sector lost 0.20%, followed by the Oil & Gas sector (-0.07%), and the Industrial goods sector (-0.0002%). The Banking and Insurance sectors increased by 1.58% and 0.03%, respectively. Global Markets Indices Drop as Investors Rotate Positions