NGX Rises by N262bn as Investors Bet on Growth Stocks
The Nigerian Exchange (NGX) rose by more than N262 billion as investors stake huge bet on growth, value stocks.
Trading activities ended on a positive note on Friday, as key performance indicators advanced by 0.47%.
The market index or All-Share Index rose by 456.12 basis points on Friday’s trading session, reflecting a 0.47% increase to close at 97,520.54.
Stockbrokers spotted renewed buying appetite in some medium and large-cap stocks, including SEPLAT, JBERGER, GUINNESS, and others.
However, market activities were mixed, as the total volume traded was up by 19.49%, while the total value traded dropped by 10.91%.
In its market update, Atlass Portfolios Limited said approximately 320.70 million units valued at ₦6,021.56 million were transacted across 8,763 deals.
UBA was the most traded stock in terms of volume, accounting for 11.46% of the total volume of traded transacted in the market.
Other volume drivers include STERLINGNG (7.35%), ELLAHLAKES (7.27%), WAPCO (5.20%), and REGALINS (4.99%) to complete the top 5 on the volume chart.
UBA emerged as the most traded stock in value terms, with 16.47% of the total value of trades on the exchange.
SEPLAT topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by ABCTRANS, up by +9.82%.
Other gainers include LIVESTOCK (+9.70%), CAVERTON (+9.62%), FTNCOCOA (+9.29%), ELLAHLAKES (+8.43%) and twenty-eight others.
Twenty-one (21) stocks depreciated, according to stockbrokers. ETERNA was the top loser, with a price depreciation of -10.00%.
Other decliners include PZ (-9.49%), DANGSUGAR (-5.85%), FIDELITYBK (-4.76%), NASCON (-2.91%), and OANDO (-1.95%).
Based on the trading directions, the market breadth closed positive, recording 34 gainers and 21 losers.
In addition, the market sector performance was positive, as three of the five major market sectors inched higher.
Oil & Gas sector grew by +3.49%, followed by the Banking sector which advanced by +0.11% while the Industrial sector surge by +0.11%.
The Insurance and Consumer goods sectors declined by 1.25% and 0.47% accordingly. Overall, the equities market cap of the NGX gained ₦262.10 billion, representing a growth of 0.47%, settling at ₦56.04 trillion. #NGX Rises by N262bn as Investors Bet on Growth Stocks
