Equities Investors Gain N306bn as ARADEL, OANDO Surge
The equities market capitalisation of the Nigerian Exchange (NGX) swelled by about N306 billion as Aradel Holdings and Oando Energy Plc surged, in addition to a boost from other lightweight gainers
The bargain hunting in the local bourse drove key performance indicators higher by 50 basis points. Data from the domestic bourse revealed that the all-share index advanced by 0.50%, while the market capitalization grew by 0.52%.
In its market update, Atlass Portfolios Limited attributed a slight discrepancy between the performance indicators to the additional listing of Chapel Hill Denham Management Limited’s Infrastructure Debt Fund of 93,950,000 units of N100 each at N109.43 per unit on the exchange today.
The market index added 487.24 basis points to close at 97,783.81 following increased positioning on growth and value stocks. According to stockbrokers, equities investors renewed interest in ARADEL, OANDO, FBNH, and others, driving the momentum.
However, market activities ended on a mixed note as the total volume traded for today dropped by 23.07%, while the total value traded was up by 5.11%. Atlass Portfolios Limited told investors that approximately 632.74 million units valued at N10.811.03 million were transacted across 8,404 deals.
FBNH was the most traded stock in terms of volume, accounting for 26.36% of the total volume of traded on the Exchange. Other volume drivers include HMCALL (18.86%), GUINEAINS (6.53%), CUTIX (6.09%), and ACCESSCORP (3.25%) to complete the top 5 on the volume chart.
FBNH also emerged as the most traded stock in value terms, accounting for 38.71% of the total value of trades on the exchange. VITAFOAM topped the advancers’ chart for today with a price appreciation of 9.81 percent.
Other gainers include ARADEL (+9.23%), FTNCOCOA (+7.82%), SOVRENINS (+6.25%), OANDO (+5.40%), LINKASSURE (+4.40%), and twenty-two others. In all, twenty-nine stocks depreciated in the equities market on Thursday. PRESTIGE was the top loser, with a price depreciation of -10.00%.
Other decliners include UNILEVER (-9.97%), ETERNA (-6.94%), JAPAULGOLD (-6.36%), HONYFLOUR (-4.08%), and NEIMETH (-0.91%). Based on the trading direction, the market breadth closed slightly negative, recording 28 gainers and 29 losers. In addition, the market sector performance was positive, as three of the five major market sectors improved.
The banking sector grew by 0.74%, followed by a 23 basis point increase in the insurance index, while the industrial sector rose by 0.15%. On the other hand, the oil & gas and consumer goods sectors dropped by -0.50% and -0.11%, respectively.
Overall, the equities market capitalisation advanced by N305.86 billion to close at N59.28 trillion. #Equities Investors Gain N306bn as ARADEL, OANDO Surge Money Market Rates Mixed as Banking System Deficit Reduces
