NGX Market Cap Surpasses N65trn as FBNH, ETERNA, CADBURY Rally
Equities investors gained more than N332 billion on stocks traded in the Nigerian Exchange (NGX) as demand for FBN Holdings, ETERNA, and Cadbury Nigeria stocks jumped, pushing the total value of all listed stocks above N65 trillion.
Key performance indicators advanced by 0.51%, or 51 basis points, as trading activities closed on a positive note in the equities market. The upsurge recorded midweek was driven by bargain hunting in some medium- and large-cap stocks such as ETERNA, CADBURY, and FBNH.
The market index, or All-Share Index, rose by 536.54 basis points to close at 105,324.89 on Wednesday as investors continued to ramp up shares amidst earnings releases.
Stockbrokers said the market activities inched higher as the total volume and total value traded increased by 121.50% and 43.02%, respectively. In its note, Atlass Portfolios Limited told investors that approximately 1,044.85 million units valued at ₦28,446.87 million were transacted across 14,854 deals.
In terms of volume, ACCESSCORP led the activity chart, accounting for 44.80% of the total volume of traded in the equities market. Other volume drivers include FBNH (9.38%), UACN (4.39%), ZenitBANK (4.23%), and AIICO (3.14%), rounding out the top five.
ACCESSCORP also emerged as the most traded stock in value terms, accounting for 43.63% of the total value of all transactions conducted on the exchange. GUINEAINS topped the advancers’ chart for today with a price appreciation of 10.00 percent.
The insurance stock was trailed by ETERNA (+9.96%), CADBURY (+9.95%), INTENEGINS (+9.91%), FBNH (+9.56%), VERITASKAP (+7.56%), and thirty-one others.
Given the trading direction, twenty-one stocks depreciated. MAYBAKER was the top loser, with a price depreciation of -9.88%. Other decliners include ACADEMY (-9.33%), THOMASWY (-9.31%), PRESTIGE (-6.15%), INTBREW (-4.50%), and CONHALLPLC (-3.17%).
Today, the market breadth closed positive, recording 37 gainers and 21 losers. In addition, the market sectoral performance was positive. Out of the five major market sectors.
The banking sector climbed by 3.17%, followed by the oil & gas sector, which gained 0.31%, and the industrial sector rose by 0.09%. The insurance and consumer goods sectors dropped by 0.67% and 0.44%, respectively.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦332.25 billion to close at ₦65.22 trillion. #NGX Market Cap Surpasses N65trn as FBNH, ETERNA, CADBURY Rally $9.6bn P&ID Scam: I’ve No Witness to Call, Briton Tells Court
