Equities Investors Gain N376bn as Oil, Banking Stocks Rally

Equities Investors Gain N376bn as Oil, Banking Stocks Rally

Equities investors gained N376 billion on the Nigerian Exchange (NGX) trading platform as oil, banking and consumer goods stock drive momentum.

The market saw positive price movement in SEPLAT (+9.99%), UBA (+4.33%), OANDO (+3.77%), GTCO (+2.00%) and NESTLE (+1.72%).

Consequently, the market index or All-Share Index rose by 624.57 basis points in today’s trading session, reflecting a 0.64% increase to close at 98,694.80.  Similarly, the Market Capitalization also gained ₦378.43 billion, representing a growth of 0.64%, settling at ₦59.80 trillion.

Stockbrokers said positive performance for today was driven by investors renewed buying interest in major market sectors, particularly the Oil & Gas sector, which posted an impressive growth of +4.43%.

Data showed that trading activities in the market improved as the total volume and total value traded increased by 12.87% and 130.46% respectively.

In its note, Atlass Portfolios Limited told investors that approximately 405.02 million units valued at ₦27,568.62 million were transacted across 8,281 deals.  UBA was the most traded stock in terms of volume, accounting for 34.12% of the total volume of traded on the Exchange.

Other volume drivers include STERLINGNG (9.77%), ACCESSCORP (7.40%), NB (5.78%), and FCMB (4.98%) to complete the top 5 on the volume chart.  SEPLAT emerged as the most traded stock in value terms, with 66.57% of the total value of trades on the exchange.

DAARCOMM and IKEJAHOTEL topped the advancers’ chart with a price appreciation of 10.00 percent each.  Other gainers include SEPLAT (+9.99%), PZ (+9.90%), CHAMPION (+9.65%), NNFM (+8.48%), TRIPPLEG (+7.60%) and twenty-four others.

Seventeen stocks depreciated, according to trading record. REGALINS was the top loser, with a price depreciation of -8.20%. Other decliners include CILEASING (-5.01%), DANGSUGAR (-3.00%), CHAMS (-1.50%), MTNN (-1.31%), and FIDELITYBK (-0.36%).

Today, the market breadth closed positive, recording 31 gainers and 17 losers. Sectoral performance was bullish, with four out of the five indices closing positive.

The oil and gas (+4.43%), Insurance (+1.07%), Banking (+0.96%) and Consumer goods (+0.23%) indices all closed in positive terrain, reflecting investors’ interest in SEPLAT (+9.99%) MANSARD (+3.45%), UBA (+4.33%) and NESTLE (+1.72%), respectively. Elsewhere, the Industrial Goods (-0.04%) indices declined due to selloffs in WAPCO (-0.82%), respectively.

Overall, the equities market capitalisation of the Nigerian Exchange rose by N376 billion to N59.80 trillion. #Equities Investors Gain N376bn as Oil, Banking Stocks Rally

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