Equities Investors Gain N10bn as Nigerian Exchange Rebounds
Equities investors gained N10 billion on the Nigerian Exchange (NGX) as investors sentiment improved at the beginning of the week. The local bourse resumed trading activities for the new week on a positive note, as the market performance indicators saw marginal growth of +0.02%.
This slight upturn was attributed to bargain hunting in some medium and large-cap stocks, such as CAVERTON, NASCON, and TRANSCORP, among others. Stockbrokers at Atlass Portfolios Limited said these gains helped lift the bourse out of the red zone. The market lost N1.45 trillion last week due to sell pressure on major stocks.
Today, the equities market index, or All-Share Index, rose by 16.94 basis points to close at 102,370.62. Market activities increased as the total volume and total value trades surged by 281.51% and 38.47%, respectively.
In its note, Atlass Portfolios Limited told investors that approximately 1,250.75 million units valued at ₦16,350.22 million were transacted across 11,477 deals. In terms of volume, UNVINSURE led the activity chart, accounting for 8.90% of the total volume of traded in the market.
Other volume drivers include AIICO (6.29%), OANDO (5.63%), ZENITHBANK (5.60%), and FIDELITYBK (4.77%), rounding out the top five. OANDO emerged as the most traded stock in value terms, accounting for 18.75% of the total value of trades on the exchange.
CAVERTON topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by WAPIC which gained (+9.91%). Other gainers include SCOA (+9.68%), UPDC (+9.52%), UNIVINSURE (+9.52%), REGALINS (+9.46%) and twenty-six others.
Today, twenty-five stocks depreciated, according to data from the local bourse. EUNISELL was the top loser, with a price depreciation of -9.99%. Other decliners include JOHNHOLT (-9.63%), HONYFLOUR (-7.58%), OMATEK (-5.81%), BETAGLAS (-3.98%), and WEMABANK (-3.74%).
Given the trading direction, market breadth closed positive, recording 32 gainers and 25 losers. In addition, the market sectoral performance was positive today, as three of the five major market sectors closed in green.
The Insurance sector grew by 2.12%, followed by the Industrial sector which gained 0.17% while the Banking sector climbed by 0.12%. The Consumer goods and Oil & Gas sectors dropped by 0.46% and 0.11% respectively.
Overall, the equities market cap climbed by ₦10.14 billion, representing a growth of +0.02%, to close at ₦62.86 trillion. #Equities Investors Gain N10bn as Nigerian Exchange Rebounds FBN Holdings Records Huge Off-Market Shares Transactions
