Equities Investors Gain N59bn as UBA, FBNH, ACCESS Rally
UBA, FBNH and Access Holdings Plc are among stocks that nudged the equities market capitalisation of the Nigerian Exchange (NGX) higher by about N59 billion on Friday.
The stock market closed the week on a positive note, as the market performance indicators rose by +0.10%. Investors’ interest in major market sectors, particularly the Financial and Oil & Gas sectors, contributed to today’s market performance. The market index or All-Share Index increased by 96.64 basis points to close at 98,210.75.
Banking names including ACCESSCORP (+3.12%), FBNH (+1.35%), and UBA (+1.34%) drove the momentum in the local bourse while GOLDBREW (+9.98%) emerged as the best-performing ticker, while ETERNA (-4.62%) led the laggards.
Market activities improved on bullish investors’ sentiment. Total volume and total value traded for today increased by 43.98% and 36% respectively. In an emailed note, Atlass Portfolio Limited told investors that approximately 1,040.99 million units valued at ₦17,462.28 million were transacted across 7,220 deals.
WEMABANK was the most traded stock in terms of volume, accounting for 45.52% of the total volume of trades. The Nigerian small lender was followed by FIDELITYBK (24.23%), FCMB (4.33%), UBA (4.07%), and JAPAULGOLD (1.99%) to complete the top 5 on the volume chart.
Also, WEMABANK emerged as the most traded stock in value terms, accounting for 23.60% of the total value of trades on the exchange.
GOLDBREW topped the advancers’ chart for today with a price appreciation of 9.98 percent, trailed by JAPAULGOLD which gained +9.30%. Other gainers include SUNUASSUR (+9.07%), NSLTECH (+7.69%), SOVRENINS (+7.69%), BETAGLAS (+7.14%) and twenty-one others.
Stockbrokers reported that twenty stocks depreciated in the equities market on Friday. ETERNA was the top loser, with a price depreciation of -4.62%. Other decliners include STERLINGNG (-4.12%), PRESTIGE (-3.85%), CORNERST (-3.03%), NB (-2.85%), and OANDO (-0.16%).
Given the trade direction, the market breadth closed positive, recording 27 gainers and 20 losers. In addition, the market sector performance was positive, as four of the five major market sectors were up.
The Banking sector grew by 0.73%, followed by the Insurance sector which gained 0.55%. The Oil & Gas sector also climbed by 0.17% while the Industrial sector rose by 0.04% but the Consumer goods sector dropped by 0.16%.
Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦58.59 billion to close at ₦59.53 trillion. £Equities Investors Gain N59bn as UBA, FBNH, ACCESS Rally Jigawa Approves N117m for Establishment of Pilot CNG Centre in Dutse
