Equities Market Nears N57 trillion as Investors Gain N263bn
The Equities market capitalisation of the Nigerian Exchange (NGX) inched near N57 trillion mark on Thursday following a huge daily gain of about N263 billion in the local bourse.
The NGX All-Share Index ended positive at 100,503.21 points, posting a gain of 0.47%. The market saw buying interest in some mid- to high-capitalized stocks, including UCAP 9.92%, OANDO 9.76%, and AIRTELAFRI 4.76%, among others.
In its market update, Atlass Portfolio Limited spotted that the disparity between the indicators was a result of the delisting of three listed companies on the Nigerian Exchange.
Niger Insurance Plc, Resort Savings and Loans Plc; and RAK Unity Petroleum Plc were yanked off from the NGX platform, thus halting every trading activity on the stocks.
Today, market activities inched lower, as the total volume and total value traded for the day decreased by -64.27% and -17.30% respectively. Stockbrokers said approximately 392.80 million units valued at ₦8,333.02 million were transacted across 9,013 deals.
GTCO was the most traded stock in terms of volume, accounting for 10.13% of the total volume of traded, followed by VERITASKAP (9.19%), FCMB (8.05%), UBA (7.49%), and CUTIX (7.30%). AIRTELAFRI emerged as the most traded stock in value terms, with 26.95% of the total value of trades on the exchange.
UCAP topped the advancers’ chart with a price appreciation of 9.92 percent, trailed by OANDO which surged by 9.76%. Other gainers include AFRIPRUD (+9.55%), LEARNAFRCA (+9.38%), ABCTRANS (+9.09%), RTBRISCOE (+9.09%), and eighteen others.
Twenty-eight stocks depreciated, according to data from the local bourse. LINKASSURE and VERITASKAP were the top losers, with a price depreciation of -10.00% each.
Other decliners are VITAFOAM (-9.67%), ZENITHBANK (-7.00%), LIVESTOCK (-6.84%), FBNH (-4.00%), and FIDELITYBK (-1.86%) also dipped in price. The trading update showed that the market breadth closed negative, recording 24 gainers and 28 losers. Meanwhile, sectoral performance was positive
The Insurance (-2.35%) and Banking (-2.28%) indices closed bearish due to profit-taking actions in CORNERST (-5.71%) and ZENITHBANK (-7.00%). Elsewhere, the Oil & Gas (+0.19%), Consumer Goods (+0.07%), and Industrial Goods (+0.01%) indices closed in the green, buoyed by positive sentiments in OANDO (+9.76%), FLOURMILL (+2.51%), and NAHCO (+2.97%), respectively.
Overall, the equities market capitalisation of the Nigerian Exchange rose by N262.82 billion to N56.91 trillion. #The Equities market capitalisation of the Nigerian Exchange (NGX) inched near N57 trillion mark on Thursday following a huge daily gain of about N263 billion in the local bourse. CBN Sells US Dollars to Banks, BDCs to Boost FX Liquidity
