Equities Investors Gain N138bn on Santa Claus Rally
Equities investors gained about N138 billion amidst Santa Claus rally, which some stockbrokers think arrived on the local bourse earlier than thought. In the stock market, it has been a heavy bargain on hunting that continues to push key performance indicators upward, with rising year-to-date returns currently adjusted as best in the global market.
Again, the equity market began the new trading week on a positive trajectory; key performance indicators advanced by 0.22%. The market index, or All-Share Index, added 227.06 basis points in today’s trading session, reflecting a 0.22% increase to close at 101,356.15.
Stockbrokers said today’s bullish performance was driven by heightened investor interest in some medium- and large-scale stocks. Particularly, investors increased position in MRS, INTBREW, OKOMUOIL, MANSARD and other stocks with strong upside potential.
Despite positive price movement, market activities dropped, as the total volume and total value trades dropped by 2.40% and 1.31%, respectively. In its market update, Atlass Portfolios Limited told investors that approximately 503.19 million units valued at ₦16,271.90 million were transacted across 12,490 deals.
In terms of volume, GTCO led the activity chart, accounting for 7.85% of the total volume of traded in the local bourse. Other volume drivers include JAPAULGOLD (7.13%), ZENITHBANK (6.91%), UBA (5.26%), and UNIVINSURE (5.10%), rounding out the top five.
ARADEL emerged as the most traded stock in value terms, accounting for 22.80% of the total value of trades consummated on the exchange. INTBREW, LIVINGTRUST, MANSARD, MRS, STERLINGNG, CHAMPION, and OKOMUOIL topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
Other gainers include HONYFLOUR (+9.92%), SUNUASUR (+9.88%), IKEJAHOTEL (+9.84%), AFRIPRUD (+9.80%), MULTIVERSE (+9.78%) and forty-one others. Twenty stocks depreciated, according to data from the Nigerian equities market. AUSTINLAZ was the top loser, with a price depreciation of -9.84%.
Other decliners include ARADEL (-9.64%), OANDO (-8.63%), VERITASKAP (-4.44%), LIVESTOCK (-2.44%), and FTNCOCOA (-1.62%). Based on trading pattern, the market breadth closed positive, recording 53 gainers and 20 losers.
The insurance (+3.89%), consumer goods (+2.48%), and banking (+2.16%) indices closed positive, owing to investors accumulating units of MANSARD (+10.00%), INTBREW (+10.00%) and UBA (+3.70%), respectively. On the other hand, the Industrial Goods (-0.06%) and Oil and Gas (-0.05%) indices declined, following selloffs in WAPCO (-0.73%) and ARADEL (-9.64%), respectively.
Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦137.64 billion to close at ₦61.44 trillion. #Equities Investors Gain N138bn on Santa Claus Rally Equities Investors Gain N1.06T as Financial Stocks Rally
