NGX Index Rises as Bargain Hunting Boosts Market Cap by N98bn
The Nigerian Exchange (NGX) All-Share index rose by 15 basis points on Tuesday as bargain hunting drove market capitalisation higher by about N98 billion.
Trading activities closed in green with improved key performance indicators. The surge was driven by increased buying interest in some medium- and large-cap stocks.
The NGX All-Share Index grew by 158.05 basis points in today’s trading session, up by 0.15% to close at 104,788.35 points on Tuesday.
However, the market activities were mixed as the total volume traded in the local bourse declined by 7.61%, while the total value of all transactions conducted grew by 50.07%.
In a note, investment firm Atlass Portfolio Limited told investors that approximately 471.71 million units valued at ₦19,889.61 million were transacted across 14,600 deals.
In terms of volume, FBNH led the activity chart, accounting for 17.63% of the total volume of traded, followed by ZENITHBANK (6.27%), UNIVINSURE (5.14%), UACN (4.50%), and GTCO (4.29%), rounding out the top five.
GEREGU emerged as the most traded stock in value terms, accounting for 41.67% of the total value of transactions conducted on the exchange.
REDSTAREX and UNIVINSURE topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by BETAGLAS (+9.98%), NNFM (+9.98%), CHELLARAM (+9.89%), INTENEGINS (+9.84%), GUINEAINS (+9.59%), and thirty-one others.
Twenty-three stocks depreciated, according to data from the Nigerian Exchange. IKEJAHOTEL was the top loser, with a price depreciation of -9.55%.
Other decliners include NEM (-6.59%), SUNUASSUR (-6.14%), CONHALLPLC (-5.97%), ROYALEX (-3.03%), and UACN (-2.78%).
Given the trading direction, the market breadth closed positive, recording 38 gainers and 23 losers. In addition, the market sectoral performance was positive.
Three of the five major market sectors ended on a positive note. The consumer goods sector advanced by 0.16%, followed by the industrial sector, which gained 0.06%, and the banking sector rose by 0.03%. The insurance and oil & gas sectors dropped by 0.52% and 0.01%, respectively.
Overall, the equities market capitalisation of the Nigerian Exchange grew by ₦97.87 billion to close at ₦64.89 trillion. #NGX Index Rises as Bargain Hunting Boosts Market Cap by N98bn Navy Intercepts Boat Laden with 100,000 litres of Stolen Crude Oil in Ondo
