NGX Index Rises by 0.30%, Equity Investors Gain N262bn
The Nigerian Exchange (NGX) All-share index rose by 30 basis points or 0.3% on Monday as equity investors’ portfolio value gained more than N262 billion above closing value last week.
The stock market opened the new week in the green, extending its positive momentum from last Thursday before the short holiday. Investors staked fresh bets on oversold stocks, and the NGX index surged.
Key market performance indicators advanced by 0.30% on the day, while the market capitalisation gained the same margin due to bargain hunting. The bourse uptrend was driven by sustained bargain hunting in recently depressed medium and large-cap stocks across key sectors.
The leading stocks that courted investors’ attention include PZ, ELLAHLAKES, AIICO, TRANSPOWER, DANGSUGAR, among others across major sectors.
Specifically, the market index or All-Share Index added 414.74 basis points in today’s trading session, reflecting a 0.30% increase to close at 139,394.75, stockbrokers reported.
However, market activities were mixed today as the total volume of all trade consummated in the local bourse dropped by -47.50%, while the total value increased by +14.50%.
In a note, Atlass Portfolio Limited told investors that approximately 947.87 million units valued at ₦17,971.67 million were transacted across 36,036 deals.
In terms of volume, FCMB led the activity chart, accounting for 48.68% of the total volume of all trades closed in the market, followed by UNIVINSURE (4.46%), ROYALEX (3.72%), ZENITHBANK (2.82%), and FIRSTHOLDCO (2.74%), rounding out the top five.
FCMB also emerged as the most traded stock in terms of value, accounting for 26.38% of the total value of all transactions on the exchange.
PZ and UPL topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by ELLAHLAKES (+9.94%), LEGENDINT (+9.90%), NCR (+9.84%), AIICO (+9.74%), ETRANSACT (+9.71%) and thirty-four others.
Seventeen stocks depreciated, according to stockbrokers. IMG, ENAMELWA, THOMASWY, and UNIONDICON were the top losers, with a price depreciation of -10.00% each.
Other notable losers on Monday include ETERNA (-9.36%), TRANSCORP (-7.34%), FIRSTHOLDCO (-5.57%), LIVESTOCK (-4.52%), and HONYFLOUR (- 0.86%).
Given the trading direction, the market breadth closed largely positively, recording 41 gainers and 17 losers. In addition, the market sectoral performance was positive.
The Insurance sector grew by +3.16% followed by the Consumer goods, up by +0.60%, and the Industrial sector saw a marginal gain of +0.02%. The Banking sector dropped by -0.53%, while the Oil & Gas sector closed unchanged.
Overall, the equity market capitalisation surged by ₦262.42 billion to close at ₦88.20 trillion. # NGX Index Rises by 0.30%, Equity Investors Gain N262bn Nigeria Leads 6 African Countries to Global Gas Summit in Italy
