Equities Investors Gain N100.5bn as NGX Halts Losses
Equities investors gained N100.51 billion as the Nigerian Exchange (NGX) stopped losses, with oil-linked and industrial stocks rising on Thursday.
The Nigerian stock market staged a marginal rebound with the NGX All-Share Index edging up 0.06% to close at 242,378.13 points.
The soft bargain hunting pushed the year-to-date return to +55.76% and added ₦100.51 billion to market capitalisation, which closed at ₦157.15 trillion.
Trading activity was varied, as volume and turnover surged 161.79% and 21.83% to 1.4 billion shares and ₦27.4 billion, respectively, while deal count slipped 1.54% to 46,218 transactions.
The gainers list was led by SEPLAT (10.00%), JAPAULGOLD (9.83%), and TANTALIZER (8.29%), while the losers list was led by ARADEL (-10.00%), RTBRISCOE (-10.00%), and CHAMPION (-9.91%).
Sectoral performance was mixed, as advances in Oil & Gas (+6.39%) and Commodity (+4.65%) offset declines in Insurance (-7.70%), Banking (-5.14%), Industrial (-3.76%), and Consumer Goods (-2.63%).
The market is expected to return to downward pressure as investors continue to liquidate positions across the Insurance and Banking sectors ahead of the Dangote Refinery IPO, which is set to commence at the start of the coming week. Top 5 Stocks with Buy Recommendations from Broadstreet
