Equities Investors Gain N132bn in Latest Rally
Halting the downtrend, equities investors gained more than N132 billion midweek due to buying interest in mid-cap stocks. Stock market performance indicators improved by 0.34% over a new bull run in the exchange.
The positive performance was primarily driven by price appreciation in NESTLE (+9.52%), SEPLAT (+10.00%), TRANSCORP (+1.34%), UCAP (+0.29%) and 17 other stocks which kept the All-Share-Index in the positive terrain.
Data from the domestic bourse showed that year-to-date return advanced to 39.09 %, as investors’ wealth was up by approximately ₦132 billion. In its daily update, Atlass Portfolios Limited said the market index or NGX All-Share Index increased by 243.51 basis points, representing a rise of +0.34% to close at 71,284.56.
However, market activities were mixed, trading results showed. The total volume traded on Wednesday went down by -32.55%, while the total value traded grew by +17.64%. Stockbrokers said in their updates that approximately 360.60 million units valued at ₦6,610.74 million were transacted in 6,579 deals.
GTCO was the most traded stock in terms of volume, accounting for 16.46% of the total volume of trades. The financial services group was followed by TRANSCORP (7.92%), UBA (6.20%), NSLTECH (5.97%), and ACCESSCORP (4.60%) to complete the top 5 on the volume chart.
Based on the trading pattern and its size advantage, GTCO was also the most traded stock in value terms, with 33.45% of the total value of trades on the exchange.
SEPLAT topped the advancers’ chart with a price appreciation of 10.00 per cent, trailed by MEYER (9.79%), SUNUASSUR (+9.56%), NESTLE (+9.52%), CONHALLPLC (+9.24%), and sixteen others.
Thirty-eight stocks depreciated, Atlass Portfolios Limited told investors in an email. GUINEAINS was the top loser, with a price depreciation of -10.00%. The top loser was followed by OMATEK (-9.88%), NEIMETH (-9.45%), CUSTODIAN (-5.84%), STERLINGNG (-3.23%), and OANDO (-2.17%).
According to details from the Nigerian Exchange, the market breadth closed negative, recording 21 gainers and 38 losers. It was noted that the market sector performance was positive. Naira Devaluation Deepens Economic Crisis in Nigeria
Three of the five major market sectors inched higher, stockbrokers said. The indices were led by the Oil & Gas sector which grew by (+6.06%), followed by the Insurance sector which popped higher by 1.17%.
The Consumer goods sector also gained +0.89% while the Banking sector dropped by -0.56%. The Industrial sector closed flat. Overall, equities market capitalisation jumped by ₦132.45 billion to close at ₦39.01 trillion from ₦38.88 trillion yesterday.
