Nigerian Exchange Index Rises as Equities Investors Gain N321bn
The Nigerian Exchange (NGX) All-Share Index advanced by 49 basis points on Tuesday as equities investors saw N321 billion gain from the latest rally. The equities market resumed trading in positive territory after the public holiday, as key performance indicators climbed by 0.49%.
The local bourse picked up from where it left off before the break, driven by bargain hunting in recently depreciated medium- and large-cap stocks, such as INTBREW, JAPAULGOLD, UCAP, UBA, among others.
The Nigerian Exchange All-Share Index added 511.17 basis points, reflecting a 0.49% increase to close at 104,744.98. However, the market activities were down, as the total volume and total value of trades reduced by 6.11% and 8.99%.
In a note, Atlass Portfolios Limited told investors that approximately 353.28 million units valued at N7,195.27 million were transacted across 13,734 deals. In terms of volume, ACCESSCORP led the activity chart, accounting for 10.97% of the total volume of trades, followed by FIDELITYBK (9.82%), CHAMS (8.43%), UNIVINSURE (7.90%), and ZENITHBANK (6.74%), rounding out the top five.
ZENITHBANK emerged as the most traded stock in value terms, accounting for 14.96% of the total value of all transactions conducted on the exchange.
INTBREW topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by NB (+9.94%), TIP (+9.89%), JAPAULGOLD (+9.79%), CORNERST (+9.65%), SMURFIT (+9.52%), and thirty-four others.
Twenty stocks depreciated, according to data from the Nigerian Exchange. INTENEGINS was the top loser, with a price depreciation of -9.46%. Other decliners include FTNCOCOA (-7.41%), STERLINGNG (-4.72%), FIRSTHOLDCO (-3.46%), OMATEK (-3.33%), and DANGSUGAR (-0.90%).
In that regard, the market breadth closed positive, recording 40 gainers and 20 losers. Also, the market sectoral performance was positive, as four of the five major market sectors were up.
The consumer goods sector advanced by 2.50%, followed by the insurance sector, which gained 2.16%; the banking sector rose by 0.71%, and the industrial sector climbed by 0.09%. The oil & gas sector recorded a loss of 0.11%.
Overall, the equities market capitalisation of the Nigerian Exchange gained N321.21 billion, representing a growth of 0.49%, settling at N65.82 trillion. #Nigerian Exchange Index Rises as Equities Investors Gain N321bn Pension Fund Assets Grows to N23.366 Trillion
