Airtel, FCMB Boost NGX Indicators, Investors Gain N653bn
Bargain hunting in Airtel Africa, FCMB Group and other risers boosted the Nigerian Exchange (NGX) All-Share Index by 45 basis points on Tuesday.
The local bourse recovered from persistent selling pressure, closing the last trading session of June on a positive note. The uptick was driven by renewed buying interest in recently moderated mid-cap and blue-chip stocks across key market sectors.
Specifically, the market index added 1,017.26 basis points today, reflecting a 0.45% increase, closing at 229,419.18. Details from the Nigerian bourse indicated that market capitalisation advanced by ₦652.78 billion to close at ₦147.22 trillion.
NGX performance in June has been bearish, driven by post-dividend profit-taking, socio-economic challenges, and pre-election activities.
At 47.43%, the stock market delivered a strong year-to-date performance, driven by the early-year rally, corporate earnings releases, dividend declarations, and improved market participation.
Today, total volume and the total value of all trades executed in the local bourse declined by -2.99% and -8.56%, respectively. Stockbrokers said that approximately 966.66 million units, valued at ₦39,985.15 million, were transacted in 49,579 deals.
LINKASSURE accounted for 10.44% of total volume traded, followed by FCMB (10.20%), JAPAULGOLD (8.90%), MORISON (8.61%), and NEIMETH with 7.78.
In terms of value traded, ARADEL accounted for 31.21% of the total value of trades, making it the most actively traded on the exchange.
PRESTIGE, CMFC, and AIRTELAFRI led by generating +10.00% each, trailed by CUTIX (+9.70%), REGALINS (+9.09%), FCMB (+7.81%), CHAMS (+6.44%), NEIMETH (+5.88%), and eleven others.
A total of thirty-two stocks depreciated. With a price depreciation of -9.98%, CUSTODIAN topped the worst performers’ chart, followed by RTBRISCOE (-9.95%), PZ (-9.95%), UPDC (-9.86%), HONYFLOUR (-9.78%), and DAARCOMM (-9.42%).
Hence, market breadth closed on a negative note, with 19 gainers and 32 losers. Sectoral performance was negative today, with three of the five major market sectors declining.
The Banking sector led the decline by -1.62%, followed by the Insurance sector (-0.38%), and the Consumer Goods sector (-0.03%). The Industrial Goods and the Oil & Gas sector appreciated by 0.01% each. Tech Stocks Rotation Shakes Global Markets as Apple Hikes Prices
