Equities Investors Gain N128bn as Nigerian Exchange Rebounds

Equities Investors Gain N128bn as Nigerian Exchange Rebounds

Equities investors gained more than N128 billion on Friday in the Nigerian stock market due to a solid improvement in buying interest. The equities segment of the Nigerian Exchange (NGX) ended trading activities for the week positive, with the key performance indicators increasing by 0.23%. 

The market index, or All-Share Index, added 223.33 basis points, reflecting a 0.23% increase to close at 96,433.53. The local bourse reversed two consecutive days of losses, driven by investor buying interest in key sectors, particularly the banking and consumer goods sectors, resulting in a growth of ₦128 billion in investors’ wealth.

Stockbrokers reported that equites market activities surged on Friday, as the total volume and total value traded for the day increased by 0.74% and 25.71% respectively.  According to Atlass Portfolios Limited, approximately 391.51 million units valued at ₦12,023.97 million were transacted across 7,981 deals.

JAIZBANK was the most traded stock in terms of volume, accounting for 14.30% of the total volume of traded in the market on Friday.  Other volume drivers include ZENITHBANK (9.11%), NOTORE (9.03%), TRANSCORP (5.75%), and UBA (5.42%) to complete the top 5 on the volume chart.

NOTORE emerged as the most traded stock in value terms, with 25.45% of the total value of trades on the exchange. OANDO, and UACN topped the advancers’ chart for today with a price appreciation of 10.00 each percent.

These top gainers were trailed by BERGER with (+9.97%) growth, RTBRISCOE (+9.83%), JAPAULGOLD (+9.82%), LIVESTOCK (+9.71%), CAVERTON (+9.66%) and thirty others.

Eighteen stocks depreciated, where DEAPCAP was the top loser, with a price depreciation of -9.62%. Other decliners include PZ (-9.52%), ETERNA (-6.25%), CONHALLPLC (-5.59%), WAPCO (-3.20%), and STERLINGNG (-1.96%).

At the end of the trading session, the market breadth closed positive, recording 37 gainers and 18 losers. On the other hand, the market sector performance was negative, as three of the five major market sector closed in red.

In today’s session, sectoral performance was mixed. The insurance (-0.94%), oil & gas (-0.20%), and industrial goods (-0.17%) indexes depreciated due to sell pressures in AIICO (-4.35%), ETERNA (-6.25%), and WAPCO (-3.20%), respectively.

On the flip side, the Banking (+0.56%) and Consumer Goods (+0.11%) indices recorded positive returns buoyed by buying interests in ETI (+4.78%) and NB (+3.85%), respectively. #Equities Investors Gain N128bn as Nigerian Exchange Rebounds Jaiz Bank Trades at 44% Discount to 52-Week High