Equity Investors See Moderate Gain as NGX Rises

Equity Investors See Moderate Gain as NGX Rises

Equity investors on the Nigerian Exchange (NGX) see a moderate gain on Thursday ahead of the final trading session in the year 2021 after a meltdown. December trading sessions have been characterised by sell-off due to weak market sentiment.

Reversing the previous day bearish trend, the Nigerian Exchange All Share Index (NGX-ASI) jumped marginally by 0.01 per cent. Today’s upward momentum was driven by the price appreciation of stocks in the financial sectors.

As a result, the Nigerian Exchange All Share Index expanded by 6.17 basis points, representing a growth of 0.01 per cent to close at 41,813.27 points.  Also, stock market capitalization edged higher by ₦3.21 billion to close at ₦21.83 trillion.

Similarly, the market activities traded positively as the total volume and value traded rose by 99.78 per cent and 24.53 per cent, respectively. A total sum of 359.96 million units valued at ₦1.84 billion was transacted in 3,607 deals, Atlass Portfolios Limited note shows.

JAIZBANK led the traded stocks in terms of volume, accounting for 27.16 per cent of the total volume of trades, followed closely by ACCESS (9.46%), STERLNBANK (8.48%), UPDCREIT (4.30%), and NGXGROUP (4.15%) to complete the top five on the volume chart.

ACCESS emerged as the most traded stock in value terms, with 16.72 per cent of the total value of trades on the exchange.

CHIPLC led on the gainers’ chart with maximum price appreciation of 10.00 percent, trailed by NEM (3.31%), NGXGROUP (3.09%), UBA (1.27%), ACCESS (1.11%), ZENITHBANK (1.01%), CUTIX (0.76%), UCAP (0.51%) and thirteen (13) others.

On the other hand, twelve (12) stocks depreciated, led by FTNCOCA with a price depreciation of 7.50 per cent to close at ₦0.37. ETI share price declined 3.47%, DANGSUGAR dropped off 2.94%, OANDO fell by 2.89%, CONOIL dipped by 1.12%, WAPCO slumped by 1.04%, and UBN bumped 0.82%.

Consequently, the market breadth closed positively, recording 21 gainers and 12 losers. Accordingly, the sector performance was largely positive, as three of the five sectors depreciated, led by the Oil & Gas  (-0.78%).

This was trailed by Consumer Goods (-0.27%), and Industrial Goods (-0.06%), while the Insurance and Banking sectors grew by 2.24% and 0.52%, respectively.

# Equity Investors See Moderate Gain as NGX Rises >>> Read Also: Yield Rises Moderate as Nigerian T-Bills Trades Quiet