Equities Investors Gain N278bn as PRESCO, NASCON, NAHCO Rally
Equities investors gained more than N278 billion in the Nigerian stock market on Monday, supported by significant trading activities that lifted Presco, NAHCO, and others market value higher.
PRESCO was up by 10.00%, followed by NASCON, whose market value rose by 7.94%. The gainers list includes NAHCO 6.58%, FIRSTHOLDCO 3.90%, OANDO 3.61%, WEMABANK 3.57%, and STERLINGNG 3.39%.
Other gainers include ACCESSCORP 2.28%, TRANSCORP 2.13%, ZENITHBANK 1.90%, UCAP 1.84%, INTBREW 1.82%, UBA 1.45%, FCMB 0.51%, and NB 0.35%, among others.
The Nigerian bourse gained N1.75 trillion last week, with key performance indicators at an all-time high. The Nigerian Exchange all-share index and equities market capitalization surged by 0.37% as sectorial indexes closed in green.
Stockbrokers said the upbeat performance was driven by sustained buying interest in both large-cap and moderately priced stocks across major market sectors. The sustained momentum underscores growing investor confidence in the domestic bourse as the market index increased by 441.43 basis points to close at a new all-time high of 118,579.65 points.
Equities market activities were up as the total volume and total value of all trades consummated in the local exchange increased by 34.21% and 13.88%, respectively. In its note, Atlass Portfolio Limited told investors that approximately 653.66 million units valued at ₦21,327.44 million were transacted across 22,206 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 21.70% of the total volume of all trades consummated, followed by ZENITHBANK (7.08%), NB (5.83%), FTNCOCOA (5.82%), and ACCESSCORP (5.81%), rounding out the top five.
OKOMUOIL emerged as the most traded stock in value terms, accounting for 16.24% of the total value of trades on the exchange. BETAGLAS, CHAMPION, FTNCOCOA, NEIMETH and PRESCO topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
These top gainers were trailed by LEGENDINT (+9.97%), UPL (+9.97%), ELLAHLAKES (+9.94%), VITAFOAM (+9.91%), TRIPPLEG (+9.76%), and thirty-five others. The NGX report revealed that twenty-two stocks depreciated.
JBERGER was the top loser, with a price depreciation of -7.48%. Other decliners include CHAMS (-5.09%), MULTIVERSE (-4.66%), CADBURY (-2.36%), GTCO (-1.65%), and MTNN (-0.93%). Today, the market breadth closed positive, recording 45 gainers and 22 losers. In addition, the market sectoral performance was positive.
The insurance sector grew by 1.90%, followed by the consumer goods sector, which appreciated by 0.73%. The banking sector climbed by 0.62%, the oil & gas sector rose by 0.43%, and the industrial sector edged higher by 0.19%. Overall, the equities market capitalisation rose by ₦278.49 billion to settle at ₦74.812 trillion, also marking a 0.37% increase.
