Equities Investors Gain N52bn as Transcorp, Eterna, FCMB Rally
Equities investors gained more than N52 billion as Transcorp, Eterna, FCMB and other stocks saw positive price movements in the market. The local bourse commenced the new trading week on a positive note, as key performance indicators posted a modest gain of 0.08%.
The market’s positive momentum was driven by investor reactions to corporate earnings releases, sparking bargain hunting in fundamentally strong stocks trading at attractive prices.
The Nigerian Exchange All-Share Index added 83.31 basis points in today’s trading session, reflecting a 0.08% increase to close at 106,621.91.
In the market, trading activities inched higher on the day, as the total volume and total value traded increased by 4.52% and 81.06% respectively.
In its note, Atlass Portfolios limited told investors that approximately 364.97 million units valued at ₦17,627.66 million were transacted across 14,565 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 15.47% of the total volume of traded on the exchange; followed by ACCESSCORP (8.34%), ZENITHBANK (7.58%), AFRIPRUD (6.39%), and TANTALIZER (3.24%).
GEREGU also emerged as the most traded stock in value terms, accounting for 53.63% of the total value of all transactions conducted on the exchange.
ETERNA topped the advancers’ chart for today with a price appreciation of 9.96 percent, trailed by TRANSCORP (+9.91%), FCMB (+9.89%), AFRIPRUD (+9.85%), ABCTRANS (+8.67%), DANGSUGAR (+8.11%) and twenty-six others.
Twenty-seven stocks depreciated, according to stockbrokers reports. VFDGROUP was the top loser, with a price depreciation of -9.92%. Other decliners include CADBURY (-8.00%), HONYFLOUR (-7.06%), TOTAL (-4.93%), OANDO (-3.57%), and WAPCO (-1.33%).
Today, the market breadth closed positive, recording 32 gainers and 27 losers due to renewed investors bargain hunting on growth, value stocks.
Nevertheless, the market sectoral performance was negative, as three of the five major market sectors were down, led by the Insurance sector which dropped by 0.87%.
The Oil & Gas sector fell by 0.44%, and the Industrial sector slipped by 0.18%. Meanwhile, the Consumer goods and Banking sectors grew by 0.23% and 0.20% respectively.
Overall, the equities market capitalisation of the Nigerian Exchange rose ₦52.17 billion, representing a growth of 0.08%, settling at ₦66.77 trillion. #Equities Investors Gain N52bn as Transcorp, Eterna, FCMB Rally#
