Equities Investors Gain N103bn, Access, Aradel Drive Rally
Equities investors on the Nigerian Exchange (NGX) gained more than N103 billion as mid- and large-cap stocks gained traction. The local bourse closed trading on a positive note, with key market performance indicators up 0.06%.
The uptick was driven by renewed bargain hunting in recently moderated mid-cap and blue-chip stocks including WEMABANK, ARADEL, ACCESSCORP, AFRIPRUD, among others, across key market sectors.
Specifically, the market index or All-Share Index, rose by +160.02 basis points to close at 247,673.65. Also, the market gained ₦103.90 billion, closing at ₦160.81 trillion.
The total volume of all trades declined by 20.11%, while the transaction value increased by 33.72%. Stockbrokers reported that approximately 314.91 million units, valued at ₦28,591.97 million, were transacted in 30,956 deals.
ACCESSCORP topped the volume chart, accounting for 32.07% of all shares traded in the market, followed by ZENITHBANK (5.74%), LIVESTOCK (4.32%), GTCO (3.93%), and UBA (3.79%).
Reflecting the size of the transaction. ACCESSCORP topped the value chart, accounting for 19.52% of total transactions on the NGX, making it the most traded stock on the exchange.
AUSTINLAZ led the gainers chart, up +10.00%, then trailed by ETRANZACT (+9.76%), LIVESTOCK (+9.71%), CMFC (+9.60%), FTGINSURE (+9.38%), NSLTECH (+9.09%), and twenty-five others.
A total of sixteen stocks depreciated. With a price depreciation of -6.02%, UPDC topped the worst performers’ chart, followed by REGALINS (-4.88%), VERITASKAP (-3.57%), RTBRISCOE (-3.14%), CHAMS (-2.78%), and FIDELITYBK (-1.72%).
Hence, the market breadth closed on a positive note, with 31 gainers and 16 losers. Sectoral performance was positive today, with four of the five major market sectors rising.
The Oil & Gas sector appreciated by +0.57%, followed by the Insurance sector (+0.36%), the Banking sector (+0.14%), and the Industrial goods sector (+0.001%). Only the Consumer goods sector declined by 0.23%. Global Equities Markets Rise as Oil Bear, AI Drive Risk Appetite
