Equities Investors See N167bn Gain as WAPCO, Dangote Rally
Bolstered by improved sentiment, the equities market capitalisation of the Nigerian Exchange (NGX) recorded about N167 billion in gain as investors took positions on banking, cement names, and others.
Consequently, the benchmark index advanced, as the all-share index increased by 26 basis points to 98,227.50 points. Stockbrokers said the bullish momentum stemmed from sustained buy interests in WAPCO (+9.98%) and ZENITHBANK (+2.05%), as well as price upticks in DANGSUGAR (+7.33%).
On the back of investors improved sentiment, the equities market year-to-date return inched higher to 31.37%, trailing the annual inflation rate of 33.88%. Investors’ sentiment remained bullish today, with strong buying interest in medium- and large-cap stocks.
Equites market trading activities inched higher as the total volume and total value traded increased by 10.95% and 31.58%, respectively.
In its market note, Atlass Portfolios Limited told investors that approximately 370.52 million units valued at N8,448.99 million were transacted across 10,026 deals. ACCESSCORP was the most traded stock in terms of volume, accounting for 6.96% of the total volume traded in the market.
Other volume drivers include UBA (6.79%), WAPCO (5.77%), GUINEAINS (4.90%), and ZENITHBANK (4.25%) to complete the top 5 on the volume chart.
SEPLAT emerged as the most traded stock in value terms, accounting for 16.51% of the total value of trades on the exchange. AUSTINLAZ and TANTALIZER topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
The top gainers were trailed by WAPCO, whose price increased by +9.98% on the day. Other gainers include HONYFLOUR (+9.95%), EUNISELL (+9.94%), CADBURY (+9.92%), JOHNHOLT (+9.86%), and thirty-one others.
Trading data revealed showed that twenty-seven stocks depreciated. NNFM and RTBRISCOE were the top losers, with a price depreciation of -10.00% each. Other decliners include NEIMETH (-5.13%), STANBIC (-5.09%), NASCON (-5.00%), CONHALLPLC (-2.62%), and JAPAULGOLD (-2.13%).
Today, the market breadth closed positive, recording 38 gainers and 27 losers. In addition, the market sector performance was positive, as four of the five major market sectors rose.
The Consumer Goods (+1.09%), Industrial Goods (+0.78%), Insurance (+0.78%), and Banking (+0.06%) indices all closed in green. The indices were buoyed by positive sentiments in DANGSUGAR (+7.33%), WAPCO (+9.98%), MANSARD (+4.01%), and ZENITHBANK (+2.05%), respectively.
On the flip side, the Oil & Gas (-0.09%) index recorded a decline, driven by selloffs in OANDO (-0.86%). Overall, the equities market capitalisation of the Nigerian Exchange gained N166.63 billion to close at N59.53 trillion. #Equities Investors See N167bn Gain as Banks, Cement Stock Rally US Dollar Falls Ahead of Consumer Price Data
