Equities Investors Gain N411bn as NGX Index Surges
Equities investors gained N411 billion in the Nigerian Exchange (NGX), and the bargain hunting boosted market index significantly.
The local bourse closed on a positive note, with the All-Share index (ASI) gained 0.42% to close at 155,034.72 points.
Overall, equities markets capitalisation surged by #411.35 billion to #98.84 trillion on Tuesday.
The bullish close was buoyed by price upticks in BUAFOODS (+3.88%), BUACEMENT (+2.00%), GTCO (+1.62%), and WEMABANK (+6.28%).
Overall, market sentiment was bullish, with market breadth printing at 1.88x, as 45 gainers led by GUINEAINS (+10.00%), JBERGER (+10.00%), and HONYFLOUR (+10.00%) outperformed 24 laggards, which were led by LIVINGTRUST (-10.00%) and UNIONDICON (-10.00%).
Activity metrics increased, with total volume traded appreciating by 223.8% to 4.7 trillion units and total value traded increasing by 10.1% to N38.9 trillion.
CORNERST led both the volume and value charts with 3.7 billion units (78.4% of total volume) worth N18.5 billion (47.7% of total value) of trades.
This aggressive volume spike was driven by large volume trades of about 3.6 billion units that crossed at N5.05 across 10 tranches.
The Insurance (+1.58%) index led the sectorial performance, followed by the Consumer Goods (+0.84%), Industrial Goods (+0.77%), and Oil & Gas (+0.33%) indices, buoyed by MANSARD (+5.38%), BUAFOODS (+3.88%), BUACEMENT (+2.00%), and OANDO (+5.12%), respectively. The Commodity Index remained flat.
On the flipside, the Banking (-0.48%) index declined, dragged down by FIRSTHOLDCO (-9.94%). #Equities Investors Gain N411bn as NGX Index Surges#
