Stock Market Capitalisation Rises as Investors Gain N23bn
The Nigerian equities market inches higher on Friday as buying sentiment in the local bourse improves. Investors gain N23 billion amidst relatively healthy buying interest that boosted equities market capitalisation.
Stockbrokers said they saw bullish performance across most sub-sectors as four of the five indexes closed in green. The NGX Banking, Insurance, Consumer Goods, and the Industrial indices expanded Oil & Gas.
Due to growth in turnover, the stock market index popped higher while the year to date advanced to 16.34%. Market data from the Nigerian Exchange showed that the All-share index gained 9 basis points to close at 49,695.12 points. .
At the close of the trading session in the week, the market breadth was negative as 10 stocks advanced and 16 declined. On the performance level, NEM Insurance led the gainers with 7.62 per cent share price appreciation closing at N5.65 per share.
Chams followed by 6.9 per cent to close at 31k per share. First City Monument Bank (FCMB) rose by 6.06 per cent to close at N3.50 per share, while United Bank for Africa (UBA) grew by 3.42 per cent to close at N7.55 per share.
Also, Flour Mills increased by 3.41 per cent to close at N30.30 per share. On the other hand, Honeywell Flour Mills led the losers’ chart by 10 per cent to close at N2.25 per share. Learn Africa came next, dropping by 8.91 per cent to close at N2.25 per share.
Linkage Assurance fell by 7.69 per cent to close at 48k per share, while WAPIC went down by 7.32 per cent to close at 38k per share. Jaiz Bank depreciated by 4.49 per cent to close at 85k per share.
Sterling Bank was the most active stock, traded with the highest volume of 173.84 million shares worth N252.13 million. It was followed by UBA, which transacted 54.07 million shares valued at N400.61 million.
Zenith Bank sold 14.02 million units of shares at N281.44 and Chams transacted 13.97 million shares worth N4.09 million. Transcorp traded 6.39 million shares valued at N6.82 million. READ: Yield on T-Bills Rises as Bond Market Trades with Bullish Bias
On Friday, market activity as measured by both volume value of trades improved in the session with daily traded volume standing at 319.085 million units, representing a 97.11% uptick from a volume of 161.882 million units traded in the previous session.
The value of those traded stocks inched up by 14.60% in the session to stand at N1.864 billion as against a value of N1.626 billion recorded in the previous trading session.
STERLNBANK topped traded stock by volume for the trading session, followed by UBA, ZENITH BANK, CHAMS, and TRANSCORP to complete the list of the five most traded stocks by volume.
With regard to the value of the traded stocks, UBA took the lead among the top five performers, flanked by MTNN, ZENITH BANK, STERLNBANK, and lastly UBA.
As the local bourse closed, equities market capitalisation settled at N26.805 trillion, representing a 0.09% increase from the N26.782 trillion it stood at the end of the previous trading session as investors’ net worth improved by N23 billion in the session. #Stock Market Capitalisation Rises as Investors Gain N23bn
