Equities Investors See N980bn Gain as Airtel, Seplat, Geregu Rally
Equities market capitalisation of the Nigerian Exchange (NGX) jumped to N56 trillion on Wednesday as investors recorded about N980 billion daily gain in the local bourse. The latest rally pushed the stock market key performance indicators upward by 1.76% after a sell-down witnessed in the domestic equities space on Tuesday.
Stockbrokers said in their separate notes that the market’s positive performance was due to investors’ increased buying appetite in blue-chip stocks. There were large buy orders executed on AIRTELAFRI, SEPLAT, and GEREGU.
Consequently, the market index or All-Share Index increased by 1,790.58 basis points today, representing a rise of +1.76% to close at 103,498.28 points, Atlass Portfolios Limited said in a report. Tinubu Seeks Senate Confirmation of Chairman, Members of CBN MPC
According to stockbrokers update, equities market activities improved after a faded buying sentiment registered yesterday.
Today, total volume and total value traded increased by +62.19% and +181.51% respectively. In its market update sent to investors, Atlass Portfolios Limited said approximately 426.86 million units valued at ₦12,106.90 million were transacted in 8,654 deals.
FBNH was the most traded stock in terms of volume, accounting for 12.80% of the total volume of trades. The bank was followed by UBA (11.17%), ACCESSCORP (10.79%), TRANSCORP (7.18%), and NB (5.97%) to complete the top 5 on the volume chart.
GEREGU was the most traded stock in value terms, with 20.65% of the total value of trades on the exchange. Ticker: AIRTELAFRI, and UNITYBNK topped the advancers’ chart for today with a price appreciation of 10.00 per cent each.
The two top performers were trailed by JULI with (+9.91%) growth, FBNH (+9.91%), MORISON (+9.82%), SEPLAT (+9.61%), PZ (+9.56%), TRANSEXPR (+9.52%) and twenty others. Twenty-five stocks depreciated, according to data from the Nigerian Exchange cited by stockbrokers. MECURE, THOMASWY, and NCR were the top losers, with a price depreciation of -10.00%.
On the loser chart are: MEYER (-9.99%), BUACEMENT (-9.91%), FIDELITYBK (-9.65%), HONYFLOUR (-7.41%), and UNILEVER (5.56%). Based on the prevailing sentiment, the market breadth closed positive, recording 28 gainers and 25 losers. Also, the market sector performance was positive, as three of the five major market sectors improved.
The Oil & Gas sector grew by +5.34%, followed by the Consumer goods sector which gained +3.99% and the Banking sector popped up by +2.01%. The Industrial and Insurance sectors were down by -3.54% and -0.25%. Overall, equities market capitalisation jumped up by ₦979.78 billion to close at ₦56.63 trillion. #Equities Investors See N980bn Gain as Airtel, Seplat, Geregu Rally
