Equities Investors Gain N567bn as OANDO, MTN Nigeria Rally
Equities investors on the Nigerian Exchange (NGX) saw their combine wealth increased by more than N567 billion on Thursday as MTN Nigeria, Oando Plc rallied.
The Nigerian equities market closed trading activities on a positive note as investors sentiment continue to improved amidst mixed earnings scorecards released by listed companies.
Data showed that year to date return advanced as the equities market key performance indicators increased by 1.03%. The NGX All-Share Index added 999.27 basis points today, reflecting a 1.03% growth to close at 98,118.30.
The local bourse saw heightened buying interest in recently depreciated medium and large-cap stocks such as MTNN, VITAFOAM, NB, and others – investors’ wealth grew by ₦676 billion in two days, Atlass Portfolios Limited said in its market update.
Stockbrokers said equities market activities improved as total volume and total value traded increased by +24.40% and +18.45% respectively. Approximately 791.78 million units valued at ₦15,126.20 million were transacted across 9,059 deals.
ACCESSCORP was the most traded stock in terms of volume, accounting for 19.20% of the total volume of traded on the Nigerian bourse on Thursday. Other volume drivers include GTCO (18.20%), ABBEYBDS (8.40%), UBA (7.39%), and JAPAULGOLD (6.17%).
GTCO emerged as the most traded stock in value terms, accounting for 36.60% of the total value of trades on the exchange. MTNN, VITAFOAM, and UNILEVER topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include OKOMUOIL which popped higher by +9.99%, OANDO (+9.97%), RTBRISCOE (+9.91%), IMG (+9.86%), NB (+9.85%), and twenty-five others.
Stockbrokers said in their separate market update that nineteen stocks depreciated on the Nigerian Exchange. Reversing previous trend, UCAP was the top loser, with a price depreciation of -9.94%.
Other decliners include STERLINGNG (-5.66%), IKEJAHOTEL (-5.56%), INTBREW (-4.97%), AFRIPRUD (-4.08%), and DANGSUGAR (-1.88%). Given the trading directions, the market breadth closed positive, recording 33 gainers and 19 losers.
As with yesterday’s trend, the market sector performance was positive, as four of the five major market sectors inched higher again.
The banking sector rose by +1.72%, followed by the Insurance sector which appreciated by 1.38% in addition to 0.54% gain seen in the consumer goods sector. The Oil & Gas sector advanced by +0.33% but the Industrial sector dropped by -0.03%.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦567.50 billion to close at ₦55.71. # Equities Investors Gain N567bn as OANDO, MTN Nigeria Rally Veritas VC Advocates ‘Meta-Theory’ in African Development
