Nigerian Exchange Indicators Surge as Investors Gain N779bn
The Nigerian Exchange (NGX) indicators surged as equities investors gained N779 billion trading highs and lows in the local bourse on Thursday.
The local exchange closed today’s trading session on a positive note, with the All-share index (ASI) gaining 0.47% to settle at 254,083.02 points.
The stock market capitalisation closed at N164.97 trillion as investors gained N779.3 billion, and the year-to-date return advanced to 63.3%, according to an update from the NGX.
Stockbrokers said the positive performance was predominantly driven by gains in DANGCEM (+5.82%), ETI (+2.90%), ACCESSCORP (+1.90%) and FCMB (+3.70%).
Similarly, investor sentiment was bullish, as market breadth printed at 1.04x, with 27 gainers outnumbering 26 losers. Overall, ETRANZACT (+10.00%) emerged as the best performer, while FIRSTHOLDCO (-10.00%) led the laggards.
Trading activity was weak today, with total volume and value traded down 15.26% and 6.66%, respectively, to 339.16 million units and N25.7 billion.
GTCO was the most traded stock by volume, with 40.6 million units (11.96% of total volume traded), while DANGCEM was the most traded stock by value, worth N5.2 billion (20.40% of total value traded).
Sectoral performance was mostly positive, with three of the six sectoral indices closing higher, while the Commodity index closed flat.
The Industrial Goods (+3.41%) index led the gains, followed by the Insurance (+0.75%) and Oil & Gas (+0.05%) indices, driven by buying interest in DANGCEM (+5.82%), SOVERNINS (+9.60%) and OANDO (+1.85%), respectively.
Conversely, the Banking (-2.10%) and Consumer Goods (-0.06%) closed lower, weighed by FIRSTHOLDCO (-10.00%) and NB (-0.34%), respectively.
The market is expected to sustain demand for large-cap stocks could support further market gains, although mixed sectoral performance and potential profit-taking may moderate near-term upside momentum. Nigeria’s 20-Year US Dollar Bond Yield Falls to 8.50%
