Equities Investors Gain N1.18trn as NGX Index Climbs
Equities investors gained about N1.18 trillion on the Nigerian Exchange (NGX) due to sustained buying interest in stocks with fundamentals and upside potential.
The Nigerian equity market closed trading activities on a bullish note, as key performance indicators showed mixed outcomes. The All-share index increased by +0.62%, while the market capitalization rose by +0.74%, stockbrokers said.
The mixed performance was attributed to the additional listing of 26,562,647,265 Ordinary Shares of 50 Kobo Each at N2.43 Per Share arising from Abbey Bank Plc’s Private Placement.
The All-Share Index (ASI) added 1,523.59 basis points in today’s trading session, reflecting a 0.62% increase to close at 246,315.38. Also, stock market capitalisation edged higher by ₦1,177.19 billion, representing a growth of 0.74%, settling at ₦159.89 trillion.
The market extended its positive run for the sixth consecutive session, driven by sustained positive sentiment as bargain hunting in midcap and blue-chip stocks lifted trading activity, with the Industrial Goods sector taking the lead with a 2.89% gain.
Total volume of all trades and the total transaction value increased by +67.79% and +22.89%, respectively. Stockbrokers reported that approximately 1,111.52 million units valued at ₦46,018.40 million were transacted across 54,102 deals.
FIDELITYBK was the volume driver, accounting for 48.30% of all shares traded in the market, followed by MBENEFIT (7.45%), ZENITHBANK (7.24%), STERLINGNG (6.98%), and GTCO with 3.15%.
Also, FIDELITYBK accounted for 23.78% of the total value of all trades executed in the local bourse, thereby making it the highest traded on the exchange.
BETAGLAS and two others led the gainers chart, up by +10.00% each, then trailed by ROYALEX (+9.89%), SOVRENINS (+9.77%), CAVERTON (+9.59%), TRANSEXPR (+8.98%), REDSTAREX (+8.63%), and twenty-five others. A total of twenty-three (23) stocks depreciated.
With a price depreciation of -9.97%, TRANSPOWER topped the worst performers’ chart, followed by LEGENDINT (-9.88%), OMATEK (-9.66%), LIVINGTRUST (-8.45%), INTBREW (-5.94%), and NSLTECH (-5.71%).
Hence, the market breadth closed on a positive note, with 33 gainers and 23 losers. Sectoral performance was positive today as three of the five major market sectors increased.
The Industrial Goods sector led by +2.89%, followed by the Insurance sector (+1.88%), and the Banking sector (+1.18%). The Consumer Goods sector and the Oil & Gas sector declined by -0.74% and -0.01%, respectively. Wall St. Down, European Stocks Take Steeper Hit from Energy Cost Surge
