Equities Market Cap Increases by N129bn as FBNH, FMN Rally
The equities market capitalisation of the Nigerian Exchange (NGX) increased by about N129 billion as shares of FBN Holdings (FBNH) , Flour Mills of Nigeria (FMN) rallied.
Resulting to an uptick in year to date return, the local bourse opened the new week on a positive note with gains seen across key indexes. The market index gained 0.23% as investors took position in financial services and consumer goods stocks.
The All-Share Index climbed by 229.02 basis points to close at 97,685.64 points. Stockbrokers said the market’s positive start for the week was driven by strong investor appetite for some medium and large-cap stocks. The top gainers include FBNH, FLOURMILL, GEREGU and others.
Details from the local bourse revealed that market activities improved. The total volume and total value traded increased by 14.14% and 45.31% respectively. According to Atlass Portfolios Limited, approximately 471.30 million units valued at ₦9,397.93 million were transacted across 12,066 deals.
JAPAULGOLD was the most traded stock in terms of volume, accounting for 15.36% of the total volume of traded in the equities market. Other volume drivers include TRANSCORP (11.00%), FBNH (9.95%), UBA (9.70%), and OANDO (3.53%).
FBNH emerged as the most traded stock in value terms, with 15.51 of the total value of trades on the exchange. In the market, FLOURMILL and FBNH topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include VITAFOAM with (+9.94%) growth, CAVERTON (+9.84%), HONYFLOUR (+9.82%), SUNUASSUR (+9.68%), UNIONDICON (+9.59%), and eighteen others.
Twenty-six stocks depreciated in the equities market. ETERNA was the top loser, with a price depreciation of -10.00%. Other decliners include OANDO (-9.94%), TANTALIZER (-9.86%), MECURE (-9.63%), MANSARD (-3.61%), and TRANSCORP (-1.79%).
Given the trading direction, the market breadth closed marginally negative, recording 25 gainers and 26 losers. Also, the sectoral performance was negative, according to details obtained from the equities market.
Stockbrokers said three out of the five major market sectors ended the trading session in red. The insurance sector which declined by -1.52% followed by the Oil & Gas sector which lost -0.62% while the insurance sector dipped by -0.01%.
The banking and consumer goods sectors advanced by 1.45% and 0.94%, respectively. Overall, the equities capitalisation of the Nigerian Exchange rose by ₦128.81 billion to close at ₦56.13 trillion.
#Equities Market Cap Increases by N129bn as FBNH, FMN Rally #Jaiz Bank Trades at 44% Discount to 52-Week High
