Nigerian Exchange Expands as Investors Gain N173bn
The equities market capitalisation of the Nigerian Exchange (NGX) inched higher as investors gained about N173 billion on Friday. Following a relatively huge rally, the rally halted a six-day negative trend, which lifted key performance indicators by +0.20%, while market capitalization edged higher by +0.31%.
The All-Share Index rose by 202.38 basis points to close at 99,671.28 points on Friday. The disparity between the indicators was a result of the listing of Wema Bank Plc’s rights issue of 8,572,103,573 ordinary shares at ₦4.66 per share on the exchange today, Atlass Portfolio Limited said in a note.
The local bourse rounded up in the green due to investors buying interest in some blue-chip stocks such as SEPLAT, PRESCO, and others. On the back of the latest rally, market activity inched higher. Total volume and total value traded increased by +41.85% and +25.20%, respectively.
Stockbrokers said in the daily report that approximately 420.90 million units valued at ₦6,820.77 million were transacted across 7,617 deals. FIDELITYBK was the most traded stock in terms of volume, accounting for 23.05% of the total volume of trades.
The Tier-2 bank was followed by ELLAHLAKES (11.10%), GTCO (10.18%), ACCESSCORP (6.24%), and UACN (4.72%), completing the top 5 on the volume chart. The market mover in the banking index, GTCO, emerged as the most traded stock in value terms, with 28.51% of the total value of trades on the exchange.
CUTIX and LEARNAFRCA topped the advancers’ chart with a price appreciation of 10.00 percent each. Other gainers include CAVERTON (+8.97%), HONYFLOUR (+8.86%), CONHALLPLC (+7.41%), SEPLAT (+7.18%), MAYBAKER (+7.08%), and thirteen others.
On Friday, twenty-three stocks depreciated, according to data from the local bourse. REDSTAREX was the top loser, with a price depreciation of -9.80%. Other decliners include GUINNESS (-7.14%), JBERGER (-5.76%), AFRIPRUD (-5.73%), FTNCOCOA (-3.91%), and FBNH (-1.55%). Today, the market breadth closed negative, recording 20 gainers and 23 losers.
Sectoral performance ended on a negative note, as four of the five major market sectors were down, led by the insurance sector, which dipped by 0.33%. The banking sector shed -0.20%), the Consumer goods sector lost 0.13% and the Industrial sector plunged by 0.06% while the Oil & Gas sector grew by +3.30%.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦172.88 billion to close at ₦56.44 trillion. #Nigerian Exchange Expands as Investors Gain N173bn >>> Transcorp, GTCO Drive Intraday Gain on NGX
