Nigerian Exchange Index Climbs by 0.02%, Bargain Hunting Slows
Up by 2 basis points, the Nigerian Exchange (NGX) platform closed on a positive note on Wednesday, though buying momentum eased sharply despite the third-quarter earnings release.
The All-Share Index inched up 0.02% to 147,742.22 points, maintaining year-to-date returns at 43.54%, reflecting the fact that the gainers list was dominated by lightweight companies.
Hence, market capitalisation increased by ₦19.84 billion to ₦93.78 trillion, reflecting optimistic investor confidence in market fundamentals remained intact. Market sentiment was upbeat, with 33 advancing stocks surpassing 27 decliners, producing a positive 1.2x breadth ratio.
Trading activity weakened across all metrics as volume dropped 21.41% to 389.11 million shares, transaction values fell 28.02% to ₦12.48 billion, and deals declined 10.25% to 23,017, reflecting diminished market participation with smaller, lower-value transactions.
Approximately 389.11 million units valued at ₦12,482.22 million were transacted across 23,017 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 12.13% of the total volume of trades, followed by CHAMS (6.41%), ZENITHBANK (5.39%), ACCESSCORP (4.97%), and FIRSTHOLDCO (4.29%), rounding out the top five.
ZENITHBANK emerged as the most traded stock in terms of value, accounting for 11.56% of the total value of trade on the exchange. ROYALEX topped the advancers’ chart for today with a price appreciation of 7.37 percent.
The insurance stock was trailed by INTENEGINS (+6.05%), JBERGER (+5.51%), OMATEK (+4.90%), DAARCOMM (+4.76%), VITAFOAM (+4.32%) and twenty-six others.
Twenty-seven stocks were depreciated, where TRIPPLEG was the top loser, with a price depreciation of -9.91%, trailed by UACN (-6.46%), ELLAHLAKES (-4.66%), HONYFLOUR (-3.49%), WEMABANK (-3.16%), and DANGSUGAR (-0.50%).
Stocks that influence market directions include INTBREW (+1.72%), STANBIC (+1.61%), and TRANSCORP (+4.19%), which outweighed declines in NB (-1.67%) and GTCO (-0.64%).
In that regard, the market breadth closed positively, recording 32 gainers and 27 losers.
Sectoral performance was mixed: Consumer Goods (+0.09%), Industrial (+0.08%), and Oil & Gas (+0.09%) recorded gains, while banking (-0.15%) and insurance (-0.13%) declined. The commodity sector remained unchanged. #Nigerian Exchange Index Climbs by 0.02%, Bargain Hunting Slows
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