Equities Investors Gain N378bn as GTCO, Zenith Boost Banking Index

Equities Investors Gain N378bn as GTCO, Zenith Boost Banking Index

Equities investors trading highs and lows in the Nigerian Exchange (NGX) platform gained about N378 billion as price appreciation in GTCO, Zenith, and Fidelity Bank boosted the banking index.

Banking index rose by 265 basis points due to gain in ZENITHBANK (+4.0%), GTCO (+2.6%), and FIDELITYBK (+8.9%). The market closed positive, reversing the previous session’s loss as investor sentiment improved.

Hence, year-to-date return advanced to 1.8% as key market performance indicators rose by 0.58%. The market rebound was driven by bargain hunting in some stocks that recently faced sell pressures, both medium and large cap across major sectors.

Notable gainers are banking heavyweights with support from CAVERTON, VFDGROUP, and AFRIPRUD, which collectively boosted the overall market sentiment and fuelled the day’s recovery.

Market breadth was also largely positive, indicating a broad-based rally across listed equities. Consequently, the Nigerian Exchange all share index rose by 601.25 basis points to close at 104,788.25 points.

However, the market activities were mixed, as the total volume of trade consummated on the exchange increased by 14.85%, while the total value traded reduced by 18.24%. In a note, Atlass Portfolios Limited told investors that approximately 432.56 million units valued at ₦9,719.35 million were transacted across 12,027 deals.

In terms of volume, ACCESSCORP led the activity chart, accounting for 18.01% of the total volume of all stocks traded in the market, followed by ELLAHLAKES (10.23%), FIDELITYBK (7.51%), ZENITHBANK (6.98%), and UBA (4.73%), rounding out the top five.

ACCESSCORP also emerged as the most traded stock in value terms, accounting for 16.70% of the total value of transactions conducted on the exchange. CAVERTON topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by NEIMETH (+9.92%), VFDGROUP (+9.92%), VERITASKAP (+9.57%), JAPAULGOLD (+9.52%), UNIONDICON (+9(+9.45%),d thirty-nine others.

Eleven stocks depreciated, according to data from the local bourse. ABCTRANS was the top loser, with a price depreciation of -10.00%. Other decliners include ETERNA (-9.90%), CAP (-7.45%), NGXGROUP (-3.23%), ACCESSCORP (-1.19%), and CUSTODIAN (-1.16%).

Today, the market breadth closed largely positive, recording 45 gainers and 11 losers. In addition, the market sectoral performance was positive. Four out of five sectoral indexes inched higher. The insurance sector grew by 2.69%, followed by the banking sector, which rose by 2.65%.  The consumer goods sector climbed by 0.59%, and the oil & gas sector inched higher by 0.08%.

The industrial sector fell by 0.03%. Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦377.82 billion to close at ₦65.85 trillion. #Equities Investors Gain N378bn as GTCO, Zenith Boost Banking Index Oyo State Pegs Borehole Drilling Costs at N14,000 Per Meter