Equities Investors Gain N41bn as NGX Rebounds

Equities Investors Gain N41bn as NGX Rebounds

Equities investors in the Nigerian Exchange (NGX) saw about N41 billion gain midweek after selling rallies that plunged the market index downward following a bucket of unimpressive earnings by listed companies.

Stock market performance indicators inched higher by 0.12% as the local bourse saw a significant positioning in value, and growth tickers, pushing year-to-date return to 25.40% – still ahead of an annual inflation rate of 22.79%

Data from the local bourse showed an uptrend in the market index. Specifically, the Nigerian Exchange All Share Index) rose by 75.16 basis points to close at 64,267.36 points.

Stockbrokers however noted that market activities were down. Total volume and total value traded dropped by 56.60 % and 44.62 % respectively. In its market update, Atlass Portfolios Limited said approximately 330.78 million units valued at ₦4,269.70 million were transacted in 6,251 deals.

TRANSCORP was the most traded stock in terms of volume, accounting for 17.79% of the total volume of trades. The conglomerate was followed by FBNH (8.45%), ETI (6.44%), ACCESSCORP (6.26%), and CHAMS (5.13%) to complete the top 5 on the volume chart.

Trading records from the local bourse showed that FBNH was the most traded stock in value terms, with 11.78% of the total value of trades on the exchange. >>>> Naira Devaluation Deepens Economic Crisis in Nigeria

NASCON, ABBEYBDS, and CHAM topped the advancers’ chart for today with a price appreciation of 10.00 percent each. These gainers were trailed by SKYAVN (9.96%), DANGSUGAR (+9.93%), CHELLARAM (+9.77%), SUNUASSUR (+9.72%), and twenty-four others.

Stockbrokers said twenty-six stocks depreciated, where THOMASWY and TIP were the top losers, with a price depreciation of -10.00% each to close at ₦1.17 and ₦0.72, OMATEK (-9.76%), MBENEFIT (-9.43%), LASACO (-4.62%), FIDELITYBK (-4.52%), and AFRIPRUD (-2.36%) also dipped in price.

Today, equities market breadth closed negative, recording 31 gainers and 26 losers while sector performance closed positive.

 Three of the five major market sectors were up, which includes the Industrial sector (+0.22%), the Consumer goods sector (+0.16%), and the Insurance (+0.04%), while the Banking sector dropped by -0.35%. The Oil & Gas sector closed unchanged.

Overall, equities market capitalisation advanced by ₦40.90 billion, representing a growth of +0.12%, to close at ₦34,973.28 trillion from ₦35,932.38 trillion the previous day.  #Equities Investors Gain N41bn as NGX Rebounds