Equities Investors Gain N184bn as Oil Stocks Rally
Equities investors gained about N184 billion on the Nigerian Exchange (NGX) trading platform as oil stocks rallied. In the local bourse, trading activities in the green for the second day straight as alpha seekers continue to hunt for value stocks.
Hence, key performance indicators grew by 0.31% on the back of bullish sentiment that drove year-to-date returns higher to 31.74%. The All-Share Index grew by 302.71 basis points in today’s trading session to close at 98,509.68.
Stockbrokers said the uptrend was driven by bargain hunting in some large and medium cap stocks – CONOIL 10.00%, ARADEL 7.53%, WAPCO 1.54%, NB 1.29%, STANBIC 0.53%, FIDELITYBK 0.32%, OANDO 0.24%, ZENITHBANK 0.23%, FBNH 0.19%, UBA 0.15%, and others.
In two days, the equities market cap has increased by N244 billion, as gains were recorded across all major market sectors.
Despite the bubbling sentiment, equites market activities declined as the total volume and total value trades fell by 65.93% and 49.44% respectively.
In its market update, Atlass Portfolios Limited told investors that approximately 320.10 million units valued at N6,477.91 million were transacted across 7,943 deals.
In terms of volume, ETRANSACT led the activity chart, accounting for 21.96% of the total volume of traded on the Nigerian Exchange.
Other volume drivers include UNIVINSURE (7.44%), ZENITHBANK (6.63%), FBNH (5.82%), and UBA (4.36%).
ARADEL emerged as the most traded stock in value terms, accounting for 18.85% of the total value of traded on the exchange.
AFRIPRUD, CONOIL and RTBRISCOE topped the advancers’ chart for today with a price appreciation of 10.00 each.
Other gainers include GOLDBREW (+9.95%), NEM (+9.74%), TANTALIZER (+9.59%), TRANSEXPR (+9.52%), CAVERTON (+9.50%) and twenty-six others.
Seventeen stocks depreciated, according to data from the domestic bourse.
JBERGER was the top loser, with a price depreciation of -10.00%. Other decliners include MULTIVERSE (-7.63%), HMCALL (-6.07%), HONYFLOUR (-5.62%), NEIMETH (-4.76%), and FTNCOCOA (-3.78%).
At the end of the trading session, the market breadth closed positive, recording 34 gainers and 17 losers. In addition, the market sector performance was positive, with all the five major market sectors closed in green.
The oil and gas sector grew by 2.59%, the Insurance sector rose by 2.34% while the Industrial sector climbed by 0.15%. The Banking sector also inched higher by 0.06% while the consumer goods index increased by 0.04%.
Overall, the equities market capitalisation of the Nigerian Exchange gained N183.50 billion to close at N59.72 trillion. # Equities Investors Gain N184bn as Oil Stocks Rally
