Return Spikes as Stock Market Gains More
The equities segment of the Nigerian Exchange (NGX) sustained its latest upbeat mode as investors show interest in cement, industrial, and insurance stocks. The market return has been uptrend since November, and stocks have been bubbling, attracting investors attention.
Specifically, buying interest in BUA and Lafarge WAPCO drive the stock market rally, along with financial stocks. Trading data shows that the Nigerian Exchange All-Share Index advanced by 0.2% to 48,366.69 points, pushing the year-to-date return to 13.23%.
While market return is at a distance from the average inflation rate, the latest trend in the local bourse has raised optimism among value hunters. Extending Monday’s gain, BUA share price appreciated by 2.5% again.
Meanwhile, there was quietness in Dangote Cement but WAPCO filled the gap as its share price also popped by 0.92%. HONEYFLOUR rose by 6.64% today as investors take interest in the consumer goods sector. CHAMPION gained 7.14%, according to market data. NASCON advanced by 3.98%.
In the Insurance segment, LASACO jumped up by 4.71% as the stock become popular among investors who also keep eye on AIICO with a 1.89% gain. READ: Nigeria’s GDP in Recovery Mode, Analysts See 3.1% Growth
Ticker: ETI spiked by 4.98% today, while JAIZBANK increased by 2.30%, and UBA was priced upward by 0.69%. On the downside, the loss recorded in OANDO (-2.50%) was a dragged Oil and Gas Index.
Today, WEMABANK topped the loser chart with 6.1% price depreciation and FTNCOCOA lost 3.3% as investors reposition their portfolios towards growth, value companies with healthy fundamentals.
Data show that the total volume traded declined by 71.4% to 184.66 million units, valued at NGN3.57 billion, and exchanged in 3,189 deals.
FBNH was the most traded stock in terms of volume, accounting for 35.80% of the total volume of trades, followed by TRANSCORP (19.83%), GEREGU (9.46%), ACCESSCORP (3.98%), and RTBRISCOE (3.05%) to complete the top 5 on the volume chart.
Meanwhile, GEREGU was also the most traded stock in value terms, with 49.11% of the total value of trades on the exchange Again, FBNH lead as the most traded stock by volume at 66.11 million units, while GEREGU was the most traded stock by value at NGN1.75 million.
Furthermore, the market sector performance closed positively, Nigerian Exchange trading result showed that four out of the five major market sectors were up.
The performing indices were led by the Industrial sector (+1.21%), followed by the Insurance sector (+0.17%), the Consumer goods sector (+0.14), and the Banking sector (+0.03%). The Oil & Gas sector was down by -0.38%.
After gaining N52.54 billion, stock market capitalization surged by 0.20% to close at ₦26,344.03 trillion from ₦26,291.49 trillion reported yesterday. #Return Spikes as Stock Market Gains More
