NGX Rises, Investors Gain N1.75trn Amidst Q3 Earnings Release
The Nigerian Exchange (NGX) All-Share Index (ASI) rose on Tuesday, with investors gaining more than N1.75 trillion on sustained risk-asset bets amidst the Q3 earnings release.
The local bourse closed trading in positive territory, with key performance indicators up 1.07%. The market sustained its upward trajectory, despite decliners outnumbering advancers, stockbrokers said.
Investors showed strong interest in DANGCEM, STANBIC, HONYFLOUR, and ACCESSCORP, among others, across key sectors, lifting the broader market.
Specifically, the market index rose by +2,699.52 basis points to close at 253,990.06, while market capitalisation gained ₦1,752.77 billion to close at ₦164.91 trillion.
Market activity edged higher as total trade volume and total value traded rose by +1488.15% and +1634.62%, respectively. Traders transacted approximately 5,233.42 million units, valued at ₦441,466.84 million, across 35,946 deals.
By volume, HONYFLOUR led with 8.69%, followed by GTCO (8.17%), ZENITHBANK (7.34%), UBA (5.77%), and FIRSTHOLDCO (5.41%).
DANGCEM topped the value chart, accounting for 19.15% of the total value of all trades executed on the local bourse, making it the highest-traded stock on the exchange.
DANGCEM topped the gainers chart, up 9.80%, followed by HONYFLOUR (+9.67%), AVACAP (+9.42%), NAHCO (+8.00%), CUTIX (+4.65%), JAPAULGOLD (+4.53%), and thirteen others. A total of thirty-six stocks depreciated.
With a price depreciation of -10.00%, PRESCO topped the worst performers’ chart, followed by TRIPPLEG (-9.93%), THOMASWY (-9.85%), AUSTINLAZ (-9.81%), TRANSCORP (-9.70%), and LIVESTOCK (-9.35%).
Hence, market breadth closed negative, with 19 gainers and 36 losers. Sectoral performance was positive today, with three of the five major market sectors up.
The Industrial goods sector rose 5.50%, followed by the Consumer goods sector (+0.05%) and the Banking sector (+0.01%). The Insurance and Oil & Gas sectors declined by 2.44% and 0.01%, respectively. Market Index Soars as Nigerian Exchange Inches Near N165trn
