Equities Investors Gain N180bn as Stocks Rally

Equity investors see large share price appreciation on Tuesday across mid and large caps companies’ stocks in the domestic bourse. Market capitalisation then rises to N27.544 trillion against N27.364 trillion posted on Wednesday, halting five days of consecutive losses.

Today’s rally was driven by bargain hunting in DANGCEM (+8.3%) ensured the market closed higher, according to stockbrokers. Precisely, the Nigerian Exchange All-Share Index (NGX-ASI) advanced by 0.7% to 51,091.75 points.

Consequently, the month-to-date loss moderated to -3.6%, while the year-to-date return increased to +19.6%. The total volume traded declined by 51.6% to 166.97 million units, valued at N2.74 billion, and exchanged in 4,398 deals.

The uptrend was impacted by gains recorded in large capitalised stocks, amongst which are: Dangote Cement, NAHCO, Oando and Union Bank of Nigeria (UBN).

Transcorp dominated the gainers’ table in percentage terms, gaining of 10 per cent, to close at N1.32, per share. MRS followed with 9.80per cent to close at N16.25, while Dangote Cement rose by 8.30 per cent to close at N270, per share.

NAHCO garnered 7.69 per cent to close at N8.40, while Royal Exchange Assurance appreciated by 5.56 per cent to close at 95k per share. On the other hand, LearnAfrica and Bua Foods led the losers’ chart in percentage terms, dropping 10 per cent each, to close at N2.25, and N49.50, per share respectively.

Japaul Gold followed with a decline of 9.68 per cent to close at 28k, while Glaxosmith lost 9.22 per cent to close at 6.40, per share. NASCO lost 8.56 per cent to close at N11.75, per share.

However, the total volume traded rose by 14 per cent as investors bought and sold 166.97 million shares, worth N3.41 billion traded in 4,398 deals. This was against a turnover of 345 million shares valued at N3.07 billion traded in 5,075 deals on Monday. Transactions in the shares of Transcorp topped the activity chart with 19.34 million shares worth N24.39 billion.

United Bank for Africa (UBA) followed with 15.59 million shares valued at N131.21 million, while Guaranty Trust Holding Company (GTCO) traded 17.29 million shares worth N365.18 million.

Zenith Bank sold 12.81 million shares valued at N281.89 million, while First Bank of Nigeria Holdings (FBNH) transacted 11.34 million shares worth N95.43 million. Sectoral performance was broadly positive, as the Industrial Goods (+3.9%), Oil & Gas (+0.7%), and Banking (+0.4%) indices closed higher.

Meanwhile, the Consumer Goods (-0.1%) and Insurance (-0.1%) indices declined. As measured by market breadth, market sentiment was negative (0.7x) as 21 tickers lost relative to 14 gainers. #Equities Investors Gain N180bn as Stocks Rally