Equities Investors Gain N11bn as Small Cap Stocks Rally
Equities investors gained about N11 billion on the Nigerian Exchange (NGX) trading platform as lightweight or small cap stocks rallied. The local bourse rebound, breaking a four-day losing streak as key market performance indicators recorded a modest gain of 0.02%.
The positive sentiment was driven by bargain hunting in some recently depreciated medium- and small-cap stock. The Nigerian Exchange All-Share Index added 17.38 basis points to close at 107,798.99.
However, the market activities were down as trading records revealed that total volume and total value of all transactions conducted in the local bourse dropped by 32.37% and 16.84%, respectively. In a note, Atlass Portfolios Limited told investors that approximately 245.52 million units valued at ₦8,414.64 million were transacted across 10,078 deals.
In terms of volume, ACCESSCORP led the activity chart for the day, accounting for 14.91% of the total volume traded in the market, followed by ZENITHBANK (10.93%), STERLINGNG (4.59%), JAIZBANK (4.44%), and AIICO (4.40%), rounding out the top five.
ZENITHBANK emerged as the most traded stock in value terms, accounting for 15.30% of the total value of trades on the exchange.
AFRIPRUD topped the advancers’ chart with a price appreciation of 9.90 percent, trailed by CAVERTON (+9.87%), OMATEK (+8.22%), LASACO (+6.92%), ETERNA (+6.60%), ROYALEX (+6.33%) and twenty-seven others.
Market data revealed that sixteen stocks depreciated on Wednesday. GUINEAINS was the top loser, with a price depreciation of -10.00%. Other losers include OANDO (-7.69%), NGXGROUP (-3.13%), GTCO (-2.40%), FTNCOCOA (-1.74%), and TRANSCORP (-1.58%).
Today, the market breadth closed negative, recording 33 gainers and 16 losers. However, the market sectoral performance was positive, as three of the five major market sectors were up. The Insurance sector advanced by 0.83%, followed by the Consumer goods sector which gained 0.58%, and the Industrial sector rose by 0.01%.
The Oil & Gas and Banking sectors dropped by 0.68% and 0.21% respectively. Overall, the equities market capitalisation of the Nigerian Exchange grew by ₦10.73 billion to close at ₦67.18 trillion. #Equities Investors Gain N11bn as Small Cap Stocks Rally
