Equities Investors Gain N175bn, Banking Index Key Driver
Equities investors gained about N175 billion as the Nigerian Exchange (NGX) continued to break into new highs, pushing year-to-date return to 14.78%. The local bourse ended the week on a bullish note, extending its winning streak as key market performance indicators advanced by 0.24%.
Today’s positive close was driven by selective bargain hunting in fundamentally good large-cap and moderately priced stocks. This activity reflects a continued rise in investor confidence in the domestic equity market. The NGX All-Share Index increased by 277.09 basis points today to close at a new all-time high of 118,138.22 points, representing a 0.24% gain.
However, market activities were down today, as the total volume and total value of trades dropped by 45.52% and 14.99%, respectively. In its market update, Atlass Portfolio Limited told investors that approximately 487.05 million units valued at ₦18,727.68 million were transacted across 17,421 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 7.38% of the total volume of all trades, followed by CWG (4.82%), ZENITHBANK (4.79%), WAPIC (4.70%), and ACCESSCORP (4.54%), rounding out the top five.
OKOMUOIL emerged as the most traded stock in value terms, accounting for 26.40% of the total value of all trades on the exchange.
LEGENDINT topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by ELLAHLAKES (+9.90%), CHAMPION (+9.63%), GUINEAINS (+8.70%), ETRANZACT (+7.52%), BERGER (+7.41%), and thirty others.
Other gainers include GTCO (6.52%), PRESCO (6.28%), OKOMUOIL (4.62%), NAHCO (3.76%), STANBIC (2.35%), FIDELITYBK (1.04%), TRANSCORP (0.86%), JAIZBANK (0.63%), ACCESSCORP (0.46%), FIRSTHOLDCO (0.37%), and others.
Twenty-seven stocks depreciated, according to data from the Nigerian Exchange. SUNUASSUR was the top loser, with a price depreciation of -8.62%. Other decliners include LIVESTOCK (-6.90%), ROYALEX (-4.04%), VFDGROUP (-3.85%), DANGSUGAR (-3.61%), and BUACEMENT (-2.33%).
On Friday, the market breadth closed positive, recording 36 gainers and 27 losers. But the market sectoral performance was negative as four out of the five major market sectors were down. The insurance sector declined by 1.07%, followed by the industrial sector, down by 0.76%, and then the consumer goods and oil & gas sectors, both recording a decline of 0.16% each.
The banking sector advanced further by 1.65%. Overall, the equities market capitalisation appreciated by ₦174.83 billion to settle at ₦74.53 trillion, also marking a 0.24% increase. Dangote Cement Opens N100bn Commercial Papers for Subscription
