NGX Rebounds as Investors Take Position in GTCO, Transcorp
Equities market capitalisation of the Nigerian Exchange (NGX) jumped by about N18 billion on Thursday as investors took positions in GTCO, Transcorp and Oando Stocks. The market has been bleeding amidst mixed earnings releases posted by listed companies, closing lower at N55.55 trillion on Wednesday.
Buying interest seen Thursday in the equities market turned the wheel, caused market performance indicators to surge by +0.03%, according to NGX daily transactions data reviewed. Consequently, the market index or All-Share Index increased by 31.75 basis points today, up +0.03% to close at 98,255.72.
Reversing previous day’s trend, market activities improved. Total volume and total value traded for today increased by +111.99% and +81.56% respectively. According to Atlass Portfolios Limited market update, approximately 676.42 million units valued at ₦16,664.16 million were transacted in 8,415 deals.
NB was the most traded stock in terms of volume, accounting for 44.41% of the total volume of trades, followed by UBA (19.36%), GTCO (7.04%), ZENITHBANK (5.02%), and TRANSCORP (3.67%).
Also, NB was also the most traded stock in value terms, with 41.49% of the total value of trades on the exchange. LEARNAFRCA topped the advancers’ chart with a price appreciation of 10.00 percent.
The company stock was trailed by TANTALIZER which appreciated by 7.69%. Other gainers are: MBENEFIT (+5.45%), GTCO (+5.26%), OANDO (+4.90%), UNITYBNK (+4.32%), and sixteen others.
Twenty-three stocks depreciated, according to stockbrokers. PZ was the top loser, with a price depreciation of -9.94%. Other stocks on the loser chart are: HONYFLOUR (-8.23%), JAIZBANK (-5.00%), DANGSUGAR (-4.96%), NASCON (-2.44%), and JAPAULGOLD (-1.19%).
Based on the trading pattern, the market breadth closed slightly negative, recording 21 gainers and 22 losers. In contrast, the market sector performance was positive.
Three OUT of the five major market sectors closed positive, according to details obtained from the Nigerian Exchange. The Banking sector grew by +1.06% followed by the Insurance sector which appreciated by +0.47% while the Industrial sector gained +0.04%. The consumer goods sector was down by -0.54% while the Oil & Gas sector closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange advanced by ₦17.96 billion, representing a slight growth of +0.03%, to close at ₦55.57 trillion. #NGX Rebounds as Investors Take Position in GTCO, Transcorp
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