Equities Investors Gain N328bn as Seplat, Stanbic, Champion Rally
Equities investors gained more than N328 billion on the Nigerian Exchange (NGX) as Seplat, Stanbic IBTC, and Champion Breweries attracted attention on Thursday.
The stock market closed on a positive note, with key performance indicators up 0.20%. Stockbrokers said the Oil & Gas index drove momentum behind the positive close.
The market saw renewed bargain hunting in some mid-cap and blue-chip stocks, including SEPLAT, STANBIC, CHAMPION, and FIDSON, among others, which offset some losses from previous sessions.
Stockbrokers said gains in SEPLAT (+3.12%), FIRSTHOLDCO (+2.09%), STANBIC (+2.55%), and FIDSON (+9.94%) largely drove today’s performance.
Specifically, the All-Share Index rose +505.56 basis points to close at 252,366.80, up +0.20%, while market capitalisation gained N328.26 billion to N163.86 trillion, up +0.20 %.
Total trade volume and transactions value rose by +596.70% and +244.62%, respectively. Traders transacted approximately 2,914.64 million units, valued at ₦78,664.25 million, across 28,318 deals, according to Atlass Portfolio Limited.
VFDGROUP drove volume, accounting for 34.52% of all shares traded on the local bourse. followed by ACCESSCORP (6.71%), UBA (4.16%), CHAMPION (4.16%), and ZENITHBANK with 3.90%.
SEPLAT topped the value chart, accounting for 26.86% of all transaction value executed on the Nigerian bourse, making it the exchange’s highest-traded stock.
UPL led the gainers chart, up by +9.89%, followed by CAVERTON (+8.96%), ABBEYBANK (+8.66%), CHAMPION (+8.56%), ETI (+6.93%), CHAMS (+6.17%), and sixteen others.
A total of twenty-nine stocks depreciated. OKOMUOIL led the decliners, down 10.00%, followed by ENAMELWA (-9.96%), NASCON (-8.99%), FTNCOCOA (-8.36%), VFDGROUP (-6.67%), and MCNICHOLS (-6.12%).
Hence, market breadth closed negative, with 22 gainers and 29 losers. Sectoral performance was negative today, with four of the five major market sectors declining.
The Banking sector fell by -0.60%, followed by the Insurance sector (-0.29%), the Consumer goods sector (-0.15%), and the Industrial goods sector (-0.002%). Only the Oil & Gas sector rose 0.03%. US Indexes Dip as Tech Earnings Disappoint, European Stocks Rally
