Equities Investors Gain N307bn as NGX Extends Rally
Equities investors gained more than N307 billion as the Nigerian Exchange (NGX) extended its rally. Buy-side actors activated hunting-for-value mode, with strong interest seen across key indexes.
The Nigerian bourse’s key market performance indicators advanced by 0.45%, reflecting positive sentiment on some listed companies’ stocks.
The market recorded buying interest in medium- and large-scale stocks across major market sectors. This marks the fourth consecutive session of gains, resulting in a total increase of approximately ₦1.92 trillion in investors’ wealth over the period. The NGX All-Share Index increased by 488.73 basis points today, representing a rise of 0.45% to close at 108,849.83.
Trading activities in the local bourse improved as the total volume and total value of all trades consummated on the Nigerian Exchange platform increased by 23.56% and 34.25%, respectively.
In its note, Atlass Portfolios Limited told investors that approximately 587.47 million units valued at ₦18,659.52 million were transacted across 17,496 deals.
In terms of volume, GTCO led the activity chart, accounting for 16.88% of the total volume of all stocks traded in the market, followed by TANTALIZER (12.92%), FIDELITYBK (6.93%), ZENITHBANK (6.58%), and NB (5.22%), rounding out the top five. GTCO also emerged as the most traded stock in value terms, accounting for 35.26% of the total value of all stocks traded on the exchange.
MEYER topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by BETAGLAS (+9.98%), TIP (+9.95%), VITAFOAM (+9.94%), SKYAVN (+9.92%), CHAMPION (+9.89%), and forty-three others.
According to details obtained from the Nigerian bourse, sixteen stocks depreciated, and DEAPCAP was the top loser, with a price depreciation of -10.00%. Other decliners include VERITASKAP (-9.09%), LINKASSURE (-6.61%), AFRIPRUD (-5.60%), STERLINGNG (-2.65%), and OANDO (-2.29%).
Today, the market breadth closed largely positive, recording 49 gainers and 16 losers. Also, the market sectoral performance was positive, as three of the five major market sectors inched higher.
The banking sector grew by 2.12%, followed by the consumer goods sector, which climbed by 2.11%, and the industrial sector increased by 0.15%. The oil & gas and insurance sectors recorded a loss of 0.18% and 0.15%, respectively.
Overall, the equities market capitalisation of the Nigerian Exchange gained N307.17 billion, representing a growth of 0.45%, to close at ₦68.41 trillion. #Equities Investors Gain N307bn as NGX Extends Rally#
