Nigerian Exchange Soars Near N80trn as Investors Gain N1.08trn
The Nigerian Exchange (NGX) market capitalisation expanded to about N80 trillion at the close of the trading session on Friday as equities investors portfolio value surged by N1.08 trillion on Friday.
The domestic bourse wrapped up a stellar five-star trading week on a bullish note, extending its winning streak as key performance indicators advanced by 1.37%.
Stockbrokers said the positive close was driven by bargain hunting in fundamentally good large-cap and moderately priced stocks, particularly within the financial and industrial sectors.
The All-Share Index increased by 1,704.24 basis points to close at a new all-time high of 126,151.04 points, representing a 1.37% gain over growing investors’ confidence. Trading activities were up as the total volume and total value of all trades consummated on the Exchange increased by 8.53% and 10.19%, respectively.
In a note, Atlass Portfolio Limited told investors that approximately 1,389.38 million units valued at ₦30,550.74 million were transacted across 33,399 deals.
In terms of volume, ACCESSCORP led the activity chart, accounting for 12.52% of the total volume of trades, followed by ELLAHLAKES (10.49%), JAPAULGOLD (10.05%), UBA (5.29%), and AIICO (4.39%), rounding out the top five.
Ticker: ACCESSCORP also emerged as the most traded stock in value terms, accounting for 13.64% of the total value of all trades on the exchange. CADBURY, CONHALLPL, NEM, and GUINNESS topped the advancers’ chart with a price appreciation of 10.00 percent each, followed by REDSTAREX (+9.98%), UBA (+9.97%), FTNCOCOA (+9.97%), ZENITHBANK (+9.94%), HMCALL (+9.94%), and fifty-one others.
Twenty-five stocks depreciated, according to data obtained from the local bourse. LEARNAFRCA was the top loser, with a price depreciation of -8.66%. Other decliners include TANTALIZER (-6.25%), REGALINS (-5.62%), OANDO (-4.61%), VERITASKAP (-5.20%), and LEGENDINT (- 2.91%).
Market breadth closed largely positive, recording 60 gainers and 25 losers. Also, the market sectoral performance was positive today, as three out of the five major market sectors ended in green.
The banking sector grew by +5.61%, followed by the insurance sector, up by +3.78%, and the industrial sector gained +1.69%. The oil & gas and consumer goods sectors dropped by -0.49% and -0.23%, respectively.
Overall, the equities market capitalisation surged by ₦1.08 trillion to settle at ₦79.80 trillion. #Nigerian Exchange Soars Near N80trn as Investors Gain N1.08trn Lagos Unveils 30-year Investment Growth Plan
