Equities Investors Gain N374bn as Nigerian Bourse Extends Rally
The Nigerian Exchange (NGX) All-share index (ASI) rose on Wednesday as capital rotated into stocks with strong fundamentals and upside potential.
The stock market closed trading activities for today on a bullish note, as key market performance indicators both recorded a 0.23% upswing.
The upturn, which has continued for the tenth consecutive session, reflected sustained positive sentiment among investors, as evidenced by bargain-hunting and buying interest in mid-cap and blue-chip stocks across key market sectors.
ETERNA, NAHCO, HONYFLOUR, NASCON, among others, recorded significant price appreciation. Consequently, the market index advanced by 576.36 basis points, closing at 251,191.02.
Also, market capitalisation inched higher by ₦374.14 billion, closing at ₦163.06 trillion. The total volume of all trades increased by 89.97%, while the transaction value declined by 5.66%.
Stockbrokers reported that approximately 1,590.54 million units, valued at ₦45,817.70 million, were transacted in 49,836 deals.
FTGINSURE topped the volume drivers, accounting for 54.20% of all shares traded in the market, followed by FIDELITYBK (10.76%), GTCO (5.43%), DANGSUGAR (2.30%), and CHAMS (2.23%).
GTCO topped the value chart, accounting for 25.92% of all transaction value, making it the most-traded stock on the exchange.
ETERNA led the gainers chart, up 10.00%, followed by THOMASWY (+9.88%), CMFC (+9.76%), HMCALL (+9.70%), OMATEK (+9.63%), JOHNHOLT (+9.59%), and 37 others.
A total of twenty stocks depreciated. With a price depreciation of -9.09%, CAVERTON topped the worst performers’ chart, followed by UPL (-9.00%), WAPIC (-6.30%), VERITASKAP (-5.45%), UCAP (-5.00%), and CILEASING (-3.51%).
Hence, the market breadth closed on a positive note, with 43 gainers and 20 losers. Sectoral performance was positive today, with four of the five major sectors rising.
The Insurance sector led by +1.08%, followed by the Banking sector (+0.85%), the Consumer goods sector (+0.17%), and the Oil & Gas sector (+0.06%). Only the Industrial Goods sector declined by -0.15%. MTN, FirstHoldco, Aradel Boost NGX Performance, Return Tops 60%
