Equities Investors Gain N505bn as BUA Foods, ETERNA Rally

Equities Investors Gain N505bn as BUA Foods, ETERNA Rally

Equities investors gained about N505 billion in the stock market as BUA Foods, Eterna Plc, and others recorded positive price movements. Data from the Nigerian Exchange showed year-to-date return advanced amidst a sharp decline in headline inflation.

The market reacted positively to inflation slowed, and the mood caused a shift in key performance indicators in the equities market on Wednesday. The Nigerian Exchange All Share Index advanced by 0.87%, while the market capitalization also recorded a strong gain of 0.75% on the back of share cancellations.

The divergence in these indicators was primarily attributed to the cancellation of 166,948,153 ordinary shares or Treasury shares of Dangote Cement Plc on the exchange today. The All Shares index added 938.53 basis points in today’s trading session, reflecting a 0.87% increase to close at 108,609.51.  The equities market cap rose by ₦504.74 billion to close at ₦67.68 trillion.

The market came out from the previous session’s decline, supported by investors buying activities in blue-chip stocks, particularly BUAFOODS, and others. However, the market activities dipped as the total volume and total value traded dropped by 15.90% and 23.35% respectively.

In a note, Atlass Portfolios Limited told investors that approximately 343.72 million units valued at ₦8,631.56 million were transacted across 12,970 deals on Wednesday. In terms of volume, ACCESSCORP led the activity chart, accounting for 18.97% of the total volume of traded in the Nigerian stock market today.

Other volume drivers include FIDELITYBK (14.77%), ZENITHBANK (6.44%), STERLINGNG (3.84%), and WAPIC (3.81%), rounding out the top five. ACCESSCORP also emerged as the most traded stock in value terms, accounting for 20.90% of the total value of all transactions conducted on the exchange.

BUAFOODS topped the advancers’ chart with a price appreciation of 9.91 percent, trailed by RTBRISCOE (+6.91%), ETERNA (+6.25%), SUNUASSUR (+6.13%), VERITASKAP (+6.03%), CILEASING (+5.60%), and nineteen others.

In total, twenty-eight stocks depreciated. UPL was the top loser, with a price depreciation of -9.80%, trailed by MCNICHOLS (-8.57%), REGALINS (-7.04%), NEIMETH (-5.07%), ELLAHLAKES (-2.72%), and FBNH (-1.58%).

Despite a positive close, the market breadth ended on a negative note, recording 25 gainers and 28 losers. However, the market sectoral performance was positive, as three of the five major market sectors closed positive.

The consumer goods sector surged by 4.16%, followed by the insurance sector, which advanced by 0.29%, and the Oil & Gas sector rose by 0.03%. The banking sector was down by 0.61%, while the industrial sector closed unchanged. #Equities Investors Gain N505bn as BUA Foods, ETERNA Rally Yield on Nigerian Treasury Bills Falls ahead of Rebase Data