Equities Investors Gain N186bn as Oando, Transcorp Rally
Equities investors gained about N186 billion on the Nigerian Exchange (NGX) trading platform on Tuesday as Oando, Transcorp, and Nigerian Breweries Plc rallied. The local bourse rebounded from the previous day’s loss amidst improved trading activities and investor sentiment that boosted key performance indicators.
The bargain hunting was primarily driven by renewed buying interest in previously depreciated medium- and large-cap stocks, particularly within the consumer goods sector.
Top gainers included OANDO, TRANSCORP, NB, and others, which collectively contributed to a rise of approximately ₦186 billion in investors’ wealth. The NGX All-Share Index increased by 295.57 basis points to close at 108,763.55.
Stockbrokers reported that equities market activities went south today, as the total volume and total value of all trades conducted in the local bourse reduced by 67.27% and 74.18%, respectively.
In its note, Atlass Portfolios Limited told investors that approximately 134.17 million units valued at ₦2,735.78 million were transacted across 6,800 deals.
In terms of volume, TANTALIZER led the activity chart, accounting for 11.65% of the total volume of all trades consummated in the market, followed by ACCESSCORP (7.42%), GTCO (6.42%), FIDELITYBK (4.72%), and NB (4.24%), rounding out the top five.
GTCO emerged as the most traded stock in value terms, accounting for 20.37% of the total value of all trades on the exchange.
OANDO and CHELLARAM topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by TRANSCORP (+9.99%), BETAGLAS (+9.96%), CAVERTON (+9.85%), MEYER (+9.66%), FTNCOCOA (+9.62%), and thirty-two others.
Twenty-four stocks depreciated, according to data from the Nigerian bourse. HMCALL was the top loser, with a price depreciation of -9.85%, followed by ACADEMY (-7.33%), ABCTRANS (-6.13%), UNIONDICON (-2.61%), ZENITHBANK (-1.64%), and JAPAULGOLD (-1.48%).
Today, the market breadth closed positive, recording 39 gainers and 24 losers. Also, the sectoral performance was positive, as three of the five major market sectors inched higher.
The consumer goods sector grew by 1.70%, the insurance sector climbed by 0.88%, and the banking sector rose by 0.20%. The industrial and oil & gas sectors recorded a loss of 0.60% and 0.18%, respectively.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦185.75 billion, representing a growth of 0.27%, to close at ₦68.36 trillion. #Equities Investors Gain N186bn as Oando, Transcorp Rally Nigerian Bonds Yield Rises Ahead of April Inflation
