Equities Investors Gain N507bn as MTN Nigeria, Transcorp Rally
Equities investors’ gained more than N507 billion on the Nigerian Exchange (NGX) as MTN and Transcorp stock rallied. Due to bargain hunting, the local bourse reversed the previous day loss, lifting up key performance indicators by 80 basis points.
The trading activities ended in green on the back of fresh investment entry into MTN Nigeria ahead of the fourth quarter of 2024 earnings release. Transcorp price appreciation also boosted equities market performance.
The trading direction reflected investors’ renewed buying interest in some medium- and large-cap stocks, while sell pressures on insurance stocks eased. Amidst the sectoral rotation, the market index, or All-Share Index, increased by 831.91 basis points to close at 104,230.73.
However, market activities were mixed today, as the total volume trades dropped by 31.99% while the total value traded increased by 68.68%. In its market note, Atlass Portfolios Limited told investors that approximately 756.42 million units valued at ₦24,692.39 million were transacted across 13,551 deals. In terms of volume, TANTALIZER led the activity chart, accounting for 12.89% of the total volume of trades.
On the volume drivers, the quick restaurant service company was followed by UNIVINSURE (8.86%), AIICO (8.50%), CHAMS (5.19%), and GUINEAINS (3.99%), rounding out the top five.
GEREGU emerged as the most traded stock in value terms, accounting for 55.72% of the total value of trades on the exchange. MTNN and TRANSCORP topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
Other gainers include HONYFLOUR (+9.95%), AIICO (+9.94%), LIVINGTRUST (+9.82%), MULTIVERSE (+9.79%), LINKASSURE (+9.72%), and twenty others. Twenty-eight stocks depreciated, according to data from the Nigerian Exchange. SUNUASSUR was the top loser, with a price depreciation of -9.99%.
Other decliners include UNIVINSURE (-8.97%), NSLTECH (-8.11%), CONHALLPLC (-5.82%), LIVESTOCK (-4.62%), and OANDO (-1.18%). Based on the trading direction, the market breadth closed negative, recording 27 gainers and 28 losers.
In addition, the market sector performance was positive, as three of the five major market sectors closed in green. The banking sector grew by 0.55%, followed by the consumer goods sector, which rose by 0.09%, and the industrial sector climbed by 0.01%. The insurance and Oil & Gas sectors dropped by 0.27% and 0.13%, respectively.
Overall, the equities market capitalisation of the Nigerian Exchange gained N507.28 billion to close at ₦63.56 trillion. #Equities Investors Gain N507bn as MTN Nigeria, Transcorp Rally FG Commissions Two 63MVA, 132/33KV Mobile Substations
