NGX Expands as Equities Investors Wealth Grows by N505bn
The Nigerian Exchange (NGX) market capitalisation expanded as equities investors portfolio value grew by N505 billion—supported by bargain hunting and listing of new shares.
The stock market sustained its bullish momentum to close today’s trading session on a positive note, as key performance indicators showed mixed outcomes.
Equities market index rose by 0.75%, adding 790.59 basis points to close at 106,074.26. The market value of listed Nigerian stocks increased by ₦508.15 billion to settle at ₦66.67 trillion.
Stockbrokers attribute the mixed indicators to the Listing by Introduction of Legend Internet Plc’s, which added 2,000,000,000 Ordinary Shares of 50 kobo each at ₦5.64 per share on the Main Board of the Exchange today.
Investors’ sentiment remained upbeat, driven by strong buying interest across major market sectors. However, the market activities went south, as the total volume and total value of all trades dropped by 55.93% and 43.28%.
In its note, Atlass Portfolios Limited told investors that approximately 328.26 million units valued at ₦10,370.34 million were transacted across 12,142 deals.
In terms of volume, ACCESSCORP led the activity chart, accounting for 15.08% of the total volume of trades conducted in the market, followed by FIDELITYBK (12.56%), GTCO (5.32%), CHAMS (4.27%), and ZENITHBANK (3.83%), rounding out the top five.
MTNN emerged as the most traded stock in value terms, accounting for 13.78% of the total value of trades consummated on the exchange. IKEJAHOTEL, NESTLE, WAPCO, CADBURY, and ETERNA topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
The risers include VITAFOAM (+9.97%). ACADEMY (+9.96%), AFRIPRUD (+9.93%), NEM (+9.93%), DANGSUGAR (+9.92%), and thirty-four others. Fifteen stocks depreciated, according to data from the Nigerian bourse.
JOHNHOLT was the top loser, with a price depreciation of -10.00%. Other decliners include HMCALL (-9.96%), JAPAULGOLD (-6.19%), ELLAHLAKES (-5.49%), UBA (-2.72%), and FIRSTHOLDCO (-0.60%).
At the end of the trading session, the market breadth closed positive, recording 44 gainers and 15 losers. Also, the market sectoral performance was positive, as four of the five major market sectors were up, led by the insurance sector, which advanced by 4.32%.
The consumer goods sector rose by 2.35%, the industrial sector climbed by 1.29%, and the oil & gas sector surged by 0.07%. The banking sector recorded a loss of 0.20%. #NGX Expands as Equities Investors Wealth Grows by N505bn Naira Appreciates as CBN Sells Additional Dollars in FX Market
