Equities Investors Gain N193bn, Banking Index Fuels Rally

Equities Investors Gain N193bn, Banking Index Fuels Rally

Equities investors portfolio value soared by about N193 billion at the Nigerian Exchange (NGX) over bargain hunting. The Nigerian equity market commenced the new trading week on a positive note, extending the upward momentum witnessed in the previous week.

Key market performance indicators climbed by 0.25% apiece, reflecting renewed investor confidence and sustained buying interest. The positive sentiment was driven by increased demand for large-cap and moderately priced stocks across major market sectors, highlighting optimism about the market’s near-term outlook.

Trading details revealed that the market index increased by 305.67 basis points today to close at a new all-time high of 121,295.33 points.

However, market activities were mixed as the total volume of all trades executed in the local bourse dropped by 10.80%, while the total value was up by 31.23%. In its market note, Atlass Portfolio Limited told investors that approximately 824.10 million units valued at ₦14,439.18 million were transacted across 24,042 deals.

In terms of volume, UNIVINSURE led the activity chart, accounting for 8.74% of the total volume of all trades consummated on the exchange, followed by FCMB (7.46%), JAPAULGOLD (6.49%), ACCESSCORP (5.11%), and AIICO (4.88%), rounding out the top five.

Nigerian Breweries Plc emerged as the most traded stock in value terms, accounting for 16.60% of the total value of all trades executed on the exchange. CADBURY, ELLAHLAKES, and TRIPPLEG topped the advancers’ chart for today with a price appreciation of 10.00 percent each.

The gainers were trailed by REDSTAREX (+9.92%), NGXGROUP (+9.91%), MEYER (+9.90%), OMATEK (+9.89%), ACADEMY (+9.89%), and thirty-two others.

Twenty-three stocks depreciated, according to stockbrokers’ report. SUNUASSUR was the top loser, with a price depreciation of -10.00%. Other decliners include PRESTIGE (-9.09%), BERGER (-7.58%), JAPAULGOLD (-6.30%), UCAP (-4.76%), and TRANSCORP (-4.55%).

Today, the market breadth closed positive, recording 51 gainers and 23 losers. Sectoral performance was also positive. The banking sector grew by +0.94%, followed by the consumer goods sector, which advanced by +0.75%, and the insurance sector, which surged by +0.39%. The oil & gas sector saw a marginal gain of +0.01%, while the industrial sector closed flat.

Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦192.85 billion to settle at ₦76.53 trillion. #Equities Investors Gain N193bn, Banking Index Fuels Rally Benchmark Interest Rate Projected to Fall by 3% in 2025