Equities Investors Gain N426bn as Dangote, Transcorp Rally
Equities investors gained more than N426 billion as bullish sentiment resurfaced in the local bourse on Tuesday. Data from the Nigerian Exchange, NGX, showed that Dangote Cement, Transcorp and other value, growth stock bolstered key performance indicators by 65 basis points.
DANGCEM (+5.3%) and TRANSCORP (+8.9%) drove the All-Share Index up by 0.7% to 106,574.98 points, according to stockbrokers. At the end of trading session, the month-to-date and year-to-date returns settled higher at +2.0% and +3.5% ahead of inflation figure for January.
Stockbrokers spotted buying interest in medium and large-cap stock, including ETERNA, VFDGROUP, BETAGLAS, TRANSCORP and others. The market activities were mixed today, as the total volume traded dropped by 15.63%, while the total value of transacted on NGX increased by 12.95%.
Approximately 478.61 million units valued at ₦11,762.35 million were transacted across 15,561 deals, stockbrokers at Atlass Portfolios Limited told investors. In terms of volume, ACCESSCORP led the activity chart, accounting for 8.10% of the total volume of traded in the equities market on Tuesday.
Other volume drivers include TRANSCORP (7.37%), VERITASKAP (5.44%), AIICO (4.48%), and ZENITHBANK (4.35%), rounding out the top five. TRANSCORP emerged as the most traded stock in value terms, accounting for 17.93% of the total value of transactions conducted on the exchange.
ELLAHLAKES topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by HONYFLOUR (+9.93%), ETERNA (+9.93%), ACADEMY (+9.70%), IKEJAHOTEL (+9.31%), SMURFIT (+9.09%), and thirty-three others.
Twenty-five stocks depreciated, according to data from the Nigerian Exchange. INTENEGINS was the top loser, with a price depreciation of -9.78%. Other decliners include SOVRENINS (-9.02%), NEIMETH (-5.03%), NB (-5.00%), CUTIX (-2.99%), and OANDO (-0.99%).
On Tuesday, the market breadth closed positive, recording 39 gainers and 25 losers. Also, sectoral performance was positive, as three of the five major market sectors climbed.
The industrial sector grew by 2.40%, followed by the banking sector, which gained 0.44%, and the insurance sector rose by 0.19%. The consumer goods and oil & gas sectors were down by 0.52% and 0.02%, respectively.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦426.38 billion, representing a growth of 0.65%, to close at ₦66.50 trillion. #Equities Investors Gain N426bn as Dangote, Transcorp Rally BN Holdings Records Huge Off-Market Shares Transactions
