BUA, Transcorp Drive NGX Rally, Investors Gain N649bn
BUA Cement and Transcorp Hotel Plc, among others, drove momentum in the Nigerian Exchange (NGX) trading platform with a surge of about N649 billion in market capitalisation.
The bulls charged back into the market as gains in 33 tickers, including FIDSON (+9.97%), BUACEMENT (+5.23%), TRANSHOT (7.01%), INTBREW (+1.70%), and GUINNESS (+1.63%) lifted the local bourse, which rebounded by +0.52% to 196,910.40 points, stockbrokers reported.
Bargain hunting pushed NGX’s year-to-date return to +26.54%, keeping it ahead of headline inflation, as investor sentiment remains elevated.
Contrary to the market’s positive close, sectoral performance was largely negative. NGXINS closed down by 0.71%, pulled by SOVRENINS (-9.09%) and NEM (-3.66%). NGXBNK retreated by 0.45%, dragged by STANBIC (-2.96%) and GTCO (-0.47%).
Also, NGXOILGAS moderated by 0.29%, due to further profit-taking on ETERNA (-10.00%) and OANDO (-4.28%). Meanwhile, NGXINDUSTR extended its positive close, up +1.88%, supported by CAP (+7.32%) and BUACEMENT (+5.23%).
NGXCNSMRGDS rebounded by +0.25%, lifted by gains in INTBREW (+1.70%) and GUINNESS (+1.63%). Market activity was mixed, with traded volume decreasing by 18.10% to 549.73 million shares, while trade value soared by +71.23% to NGN44.72 billion.
Market breadth remained weak but improved to 0.92x from 0.77x, as 33 counters gained and 36 declined. ACCESSCORP (28.12mn shares) led the volume chart, while DANGCEM (NGN20.67bn) topped the value chart. FTNCOCOA (+10.00%) was the top gainer, whereas ETERNA (-10.00%) and OMATEK (-10.00%) led the laggards.
The breakdown of sector performance indicates that the Industrial (+1.88%) index is leading the charge, followed by the Consumer (+0.25%) index, buoyed by gains in BUACEMENT (+5.23%) and INTBREW (+1.70%), respectively. The Commodity Index also closed flat in today’s session.
Conversely, the Insurance (-0.71%), Banking (-0.45%) and Oil & Gas (-0.29%) indices all closed lower, dragged by losses in NEM (-3.66%), STANBIC (-2.96%) and OANDO (-4.28%), respectively. Zenith Bank Sees Gain on Huge Trading Volume
