Equities Investors Gain N583bn as NGX Index Hits Historic High

Equities Investors Gain N583bn as NGX Index Hits Historic High

Equities investors gained N583 billion as the Nigerian Exchange (NGX) all-share index reached a historic high in a fresh rally that started on Monday. The local bourse opened the new week on a positive note with a 0.85% upswing in key performance indicators and improved year-to-date returns.

Stockbrokers highlighted that the upbeat performance was driven by investors buying interest in fundamentally strong blue-chip and mid-cap stocks, such as ARADEL, BUAFOODS, and others. Their selective buying activity boosted investor wealth by approximately ₦583 billion.

Consequently, the market index added 924.50 basis points in today’s trading session, reflecting a 0.85% increase to close at a new all-time high of 109,953.12. Market activities reduced despite the bargain hunting.

Total volume and total value of all trades reduced by 34.98% and 38.78%, respectively. In its market update, Atlass Portfolios Limited told investors that approximately 637.54 million units valued at ₦11,094.88 million were transacted across 19,775 deals.

In terms of volume, FIDELITYBK led the activity chart, accounting for 11.36% of the total volume of transactions conducted in the equities market, followed by CUSTODIAN (9.02%), ACCESSCORP (8.73%), GTCO (6.06%), and ZENITHBANK (4.36%), rounding out the top five.

GTCO emerged as the most traded stock in value terms, accounting for 15.76% of the total value of trades on the exchange. Ticker: ARADEL topped the advancers’ chart with a price appreciation of 9.98 percent, trailed by UPL (+9.86%), ABCTRANS (+8.43%), LINKASSURE (+8.16%), CILEASING (+7.32%), MCNICHOLS (+6.99%), and twenty-seven others.

Twenty-nine stocks depreciated, according to stockbrokers, citing data obtained from the domestic bourse. TRIPPLEG was the top loser, with a price depreciation of -10.00%. Other decliners include MRS (-9.97%), CUSTODIAN (-9.63%), VFDGROUP (-9.32%), DANGSUGAR (-2.56%), and GTCO (-2.29%).

Spurred by increased demand for growth stocks, market breadth closed positive, recording 33 gainers and 29 losers. However, sectoral performance closed mixed, as two out of the five major market sectors ended in the green.

The oil & gas and consumer goods sectors advanced by 3.02% and 2.20%. In contrast, the insurance and banking sectors declined by 1.06% and 0.02%, respectively. While the industrial sector closed flat. Overall, the equities market capitalisation grew by ₦582.90 billion, representing a growth of 0.85%, to settle above ₦69 trillion. #Equities Investors Gain N583bn as NGX Index Hits Historic High NNPC Ltd Plans PH Refinery Maintenance Shutdown