Nigerian Exchange Hits N97.58trn as Investors Gain N1.45trn
The Nigerian Exchange (NGX) market capitalisation crossed N97 trillion mark as investors’ bullish sentiment heightened. Trading data showed that equity portfolio value surged by about N1.45 trillion to close at N97.58 trillion due to investors’ interest in bellwether stocks.
Trading direction lifted key market performance indicators, and the All-Share Index advanced by 1.50% on Wednesday. The market capitalisation expansion was fuelled by investors interest in NASCON, DANGCEM, MTNN, ARADEL and 27 other equities.
Stockbrokers said the renewed demand reflects heightened confidence among market participants, buoyed by expectations of improved corporate earnings from quoted companies and portfolio rebalancing by fund managers.
Specifically, the market index grew by 2,279.34 basis points to close at a fresh historic high of 153,736.25 points. Similarly, the NGX market capitalisation increased by ₦1,446.76 billion to settle at ₦97.58 trillion.
Trading activities in the local bourse improved as the total volume and total value of all trades executed increased by +3.86% and +12.47%, respectively.
In a note, Atlass Portfolio Limited told investors that approximately 573.23 million units valued at ₦23,099.01 million were transacted across 28,155 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 16.13% of the total volume of all trades executed in the market, followed by GTCO (13.53%), ACCESSCORP (10.12%), ZENITHBANK (4.08%), and JAIZBANK (3.81%), rounding out the top five.
GTCO emerged as the most traded stock in terms of value, accounting for 30.88% of the total value of trade on the exchange. ASOSAVINGS topped the advancers’ chart for today with a price appreciation of 10.00 percent.
The top gainer was trailed by SKYAVN (+9.99%), NASCON (+6.80%), DANGCEM (+6.50%), TRANSCOHOT (+6.26%), ARADEL (+5.98%) and twenty-five others.
Thirty stocks depreciated due to profit-taking activities by sell side actors. TIP was the top loser, with a price depreciation of -5.73%, followed by CHAMPION (-4.49%), REGALINS (-3.76%), OANDO (-3.33%), ACCESSCORP (-2.20%), and AFRIPRUD (-0.35%).
Overall market breadth closed slightly positive, recording 31 gainers and 30 losers.
The industrial sector appreciated by +3.45%, followed by the oil & gas sector, which gained 2.07%. The industrial sector rose by +0.30%, while the insurance and banking sectors dropped by -0.51% and -0.42%, respectively. BUA Foods Hits N12.465trn, Highest in Nigerian Market
