Equities Investors Gain N129bn as Tech Stocks Rally

Equities Investors Gain N129bn as Tech Stocks Rally

Equities investors gained about N129 billion in the Nigerian Exchange (NGX) trading platform on Tuesday on price appreciation in Julius Berger and Etransact, with support from tech stocks like Omatek and Legend Internet Plc.,

Oando Plc stayed on course for price recovery, while Aradel Holdings’ market plunged sharply following a mild gain reported last week. Trading activities on the Nigerian Exchange (NGX) on a positive note after the Islamic holiday. Due to bargain hunting, key market performance advanced by 0.18% apiece.

The equities market maintained the bullish trend seen during trading sessions before the break, buoyed by increased buying interest in both mid- and large-cap stocks. Companies that recorded price upticks include BERGER, VITAFOAM, OANDO, and 32 other equities across major sectors. The positive sentiment extended the market’s winning streak to 5 consecutive sessions, reflecting sustained investor confidence.

Stockbrokers reported that the Nigerian Exchange All-Share Index increased by 204.11 basis points today to close at a new all-time high of 114,820.86 points, representing a 0.18% gain. However, market activities were down today, as the total volume and total value of all trades conducted on the exchange reduced by 55.36% and 43.61%, respectively.

In its note, Atlass Portfolio Limited said approximately 652.64 million units valued at ₦18,875.09 million were transacted across 23,978 deals. In terms of volume, ACCESSCORP led the activity chart, accounting for 13.70% of the total volume of all trades in the market, followed by ZENITHBANK (7.65%), GTCO (7.33%), FIDELITYBK (6.66%), and WAPIC (5.43%), rounding out the top five.

Ticker: GTCO emerged as the most traded stock in value terms, with 17.75% of the total value of trades on the exchange. BERGER, DAARCOMM, and ETRANZACT topped the advancers’ chart for today with a price appreciation of 10.00 percent each.

These top gainers were trailed by LEGENDINT (+9.93%), OMATEK (+8.22%), VITAFOAM (+8.00%), ABBEYBDS (+7.53%), FTNCOCOA (+6.67%), and twenty-seven others. Twenty-four stocks depreciated, according to data from the local bourse. RTBRISCOE was the top loser, with a price depreciation of -10.00%.

Other decliners include BETAGLAS (-9.69%), ARADEL (-9.09%), ACCESSCORP (-4.74%), MTNN (-2.88%), and ZENITHBANK (0.89%). At the end of the trading session, the market breadth closed positive, recording 35 gainers and 24 losers.

The sectoral performance was negative, as three out of the five major market sectors were down, led by the Oil & Gas sector, which declined by 2.84%, followed by the Insurance sector, dropping by 0.06%, and the Industrial sector, declining by 0.14%.

The consumer goods and banking sectors grew by 2.56% and 0.24%, respectively. Overall, the equities market capitalisation appreciated by ₦128.72 billion to settle at ₦72.40 trillion. #Equities Investors Gain N129bn as Tech Stocks Rally Ghana Exported $4bn Worth of Gold in 4-Month