Ecobank, Guinness Drive NGX’s N542bn Equity Portfolio Surge
Ecobank Transnational Incorporation (ETI), Guinness Nigeria, International Breweries, and BUA Foods, among others, drove the Nigerian Exchange (NGX) All-Share Index higher by 55 basis points on Monday.
The stock market extended the post-Santa Claus rally as investors sentiment remained positive ahead of New Year holiday. Buying momentum heated up as the market anticipates the release of Q4 earnings.
In today’s trading session, the benchmark index closed in positive territory as the All-Share index gained 0.55% to settle at 154,389.53 points.
The upswing performance was fuelled by demand for INTBREW (+8.28%), BUAFOODS (+1.54%), ETI (+10.00%), and GUINNESS (+9.82%). Consequently, investors gained N541.7 billion, bringing market capitalisation to N98.4 billion.
In tandem, market breadth remained positive, closing at 1.14x, as 41 gainers outpaced 36 losers. AUSTINLAZ (+10.00%) and ETI (+10.00%) led the gainers, while INTENEGINS (-10.00%) topped the laggards list.
Trade metrics diverged, as transaction volume declined by 17.21% to 1.4 billion units, while value traded increased by 17.46% to N35.3 billion.
ACCESSCORP topped the volume and value charts, with 594.4 million units (41.10% of total volume traded) worth N12.4 billion (35.03% of total value traded). Sectoral performance ended on a bullish note, with three indices posting gains in today’s session.
The Consumer Goods (+2.16%), Industrial Goods (+0.19%), and Oil & Gas (+0.01%) indices closed higher, driven by buying interest for INTBREW (+8.28%), CAP (+6.76%), and OANDO (+0.13%), respectively.
Elsewhere, sell-offs in FIRSTHOLDCO (-6.98%) dragged the Banking (-0.28%) index lower, while the Insurance and Commodity indices closed flat. Naira Appreciates by N11 at Nigerian Foreign Exchange Market
