Equities Investors Gain N138bn as Lafarge, VFD Group Rally
The Nigerian Exchange (NGX) market capitalisation rose by about N138 billion on Monday as Lafarge Africa and VFD Group rallied, among others. The Nigerian equity market began December trading session on a positive note as key performance indicators advanced by 0.23%.
The All-Share Index increased by 226.99 basis points to close at 97,733.86 on the back of positive trading activities. Stockbrokers said the market’s positive performance was driven by bargain hunting in medium- and large-cap stocks across major market sectors.
Investors and portfolio managers showed increased interest in fundamentally strong stocks, positioning for opportunities in the upcoming year, Atlass Portfolios Limited said in a note. However, market activities inched lower as the total volume and total value traded for today dropped by 12.48% and 32.70% respectively.
In its update, Atlass Portfolios Limited told investors that approximately 451.17 million units valued at N10,150.43 million were transacted across 9,329 deals.
JAPAULGOLD was the most traded stock in terms of volume, accounting for 15.97% of the total volume of traded in the equities market. Other volume drivers include UBA (15.05%), ACCESSCORP (11.89%), WAPCO (4.72%), and GTCO (4.64%) to complete the top 5 on the volume chart.
UBA emerged as the most traded stock in value terms, accounting for 22.01% of the total value of trades on the exchange. ABBEYBDS, AFRIPRUD, and WAPCO topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include VDFGROUP (+9.88%), SOVRENINS (+9.59%), TANTALIZER (+9.57%), LASACO (+9.39%), ETERNA (+9.38%), and twenty-eight others. In the equities market, twenty-five stocks depreciated, according to stockbrokers reports.
ETRANSACT was the top loser, with a price depreciation of -10.00%. Other decliners include FTNCOCOA (-8.29%), HONYFLOUR (-5.92%), CAVERTON (-3.16%), FBNH (-3.04%), and STERLINGNG (-1.64%).
Today, the market breadth closed positive, recording 36 gainers and 25 losers. Also, the market sector performance was positive. All five major market sectors inched higher, led by the insurance sector, which grew by 2.14%.
The industrial sector rose by 0.89% while the consumer goods sector advanced by 0.67%. The oil & gas sector climbed by 0.37% while the banking sector surged by 0.08%.
Overall, equities market capitalisation of the Nigerian Exchange gained N137.60 billion to close at N59.25 trillion. #Equities Investors Gain N138bn as Lafarge, VFD Group Rally Bitcoin Hits $87,000, Crypto Market Cap Nears $3 Trillion
