Equities Investors Gain N173bn as Market Movers Move

Equities Investors Gain N173bn as Market Movers Move

Equities investors’ portfolio value increased by about N173 billion in the stock market as MTN Nigeria, First Holdco, Oando, and Dangote Sugar Refinery rallied. The Nigerian Exchange (NGX) kicked off the new month on a positive note, as key market performance indicators advanced by 0.25% as investors engaged in bargain-hunting activities.

The bullish posting stemmed from price upticks in MTNN (+3.18%), FIRSTHOLDCO (+2.00%), OANDO (+2.65%), and DANGSUGAR (+3.02%), as well as buy interests in ETI (+1.43%). 

The upswing helped reverse the losses incurred in the previous trading sessions before the weekend break. Specifically, the market index added 273.94 basis points, reflecting a 0.25% increase to close at a new all-time high of 112,015.95 basis points.

However, market activities were down as the total volume and total value of all trades reduced by 72.75% and 84.30%, respectively. In a note, Atlass Portfolio Limited told investors that approximately 517.95 million units valued at ₦10,070.04 million were transacted across 17,019 deals.

In terms of volume, FIDELITYBK led the activity chart, accounting for 19.18% of the total volume of all trades conducted in the Nigerian bourse, followed by ROYALEX (11.34%), ACCESSCORP (10.71%), CUTIX (6.26%), and UCAP (5.28%), rounding out the top five.

Ticker: FIDELITYBK also emerged as the most traded stock in value terms, accounting for 18.68% of the total value of transactions conducted on the exchange.

MULTIVERSE topped the advancers’ chart with a price appreciation of 9.87 percent, trailed by LIVESTOCK (+9.57%), LASACO (+8.11%), NEIMETH (+8.06%), ROYALEX (+7.50%), WAPIC (+6.50%), and sixteen others.

Stockbrokers reported that thirty-three stocks depreciated in the market. LEGENDINT was the top loser, with a price depreciation of -9.90%. Other decliners include ETRANSACT (-9.56%), CONHALLPLC (-5.92%), HONYFLOUR (-4.76%), CHAMS (-3.02%), and FIDELITYBK (-2.06%).

The market breadth closed negative, recording 22 gainers and 33 losers. On sectoral performance, the insurance (+0.85%) and oil and gas (+0.24%) indices closed higher, driven by WAPIC (+6.50%) and OANDO (+2.65%), respectively.

On the flip side, consumer goods (-0.08%), banking (-0.06%), and industrial goods (-0.02%) all closed negative due to profit-taking activities in INTBREW (-0.52%), FIDELITYBK (-2.06%), and CUTIX (-6.73%), respectively.

Overall, the equities market capitalisation gained ₦172.75 billion, representing a growth of 0.25%, settling at ₦70.64 trillion. #Equities Investors Gain N173bn as Market Movers Move Benchmark Yield on Nigeria’s Bonds Falls in Post-Auction Rally