Airtel, Dangote Boost NGX Index, Investors Gain N628bn
The Nigerian Exchange (NGX) All-share index (ASI) recovered from sell pressures as Airtel Africa, Dangote Sugar Refinery, among others, drove momentum in the local bourse on Wednesday.
The local bourse closed its trading session on a positive note, as key market performance indicators rose by 0.41%. The uptick was triggered by fresh positive sentiment as evidenced by renewed buying interest in medium- and large-scale stocks.
Notable gainers include AIRTELAFRI, DANGSUGAR, WEMABANK, FIRSTHOLDCO, VITAFOAM, and others across major market sectors.
Hence, the market index or All-Share Index added 979.36 basis points in today’s trading session, reflecting a 0.41% increase to close at 242,729.51. The NGX market capitalisation rose by ₦628.53 billion to close at ₦155.78 trillion.
Total volume of all trades executed in the local bourse increased by +11.57% while the total Value declined by -21.00%. In its note, Atlass Portfolio Limited told investors that approximately 1,414.97 million units valued at ₦59,426.19 million were transacted across 85,804 deals.
ACCESSCORP accounted for 8.56% of trading volume, followed by CHAMS (8.35%), NSLTECH (5.99%), ZENITHBANK (5.61%), and STERLINGNG (4.78%).
MTNN accounted for 14.93% of all transaction value. Ticker: AIRTELAFRI topped the gainers chart, up by +10.00%, trailed by CAP (+9.99%), ZICHIS (+9.97%), RTBRSICOE (+9.95%), FTNCOCOA (+9.92%), DEAPCAP (+9.92%), and forty-one others.
A total of twenty-two stocks depreciated. With a price depreciation of -10.00%, SUNUASSUR topped the worst performers’ chart, followed by GUINNESS (-9.99%), CAVERTON (-8.33%), FTGINSURE (-7.69%), MAYBAKER (-6.82%), and LINKASSURE (-6.42%).
Today, market breadth closed on a positive note, with 47 gainers and 22 losers. Sectoral performance was largely positive, with four indices closing higher.
The Insurance (+0.62%), Banking (+0.51%), Consumer Goods (+0.26%), and Industrial Goods (+0.05%) indices all advanced. The upbeat was supported by gains in AIICO (+4.65%), WEMABANK (+5.44%), DANGSUGAR (+8.42%), and CAP (+9.99%), respectively.
The Oil & Gas (-0.01%) index was bearish, dragged down by OANDO (-0.55%), while the Commodities index remained flat. #Airtel, Dangote Rally Boost NGX Index, Investors Gain N628bn
