Equities Investors Gain N649bn as Nigerian Stocks Rebound
Equities investors gained about N649 billion as the Nigerian Exchange (NGX) recovered from two days of sell pressure on Thursday. The stock market performance indicators rose by 0.52%
The market rally, which ended the two-day retreat, was triggered by fresh bargain hunting amid positive trading sentiment in mid-cap and blue-chip stocks across major market sectors.
The NGX All-Share Index) added 1,010.23 basis points to close at 196,908.76, while Market Capitalisation expanded by ₦648.46 billion to close at ₦126.40 trillion.
Total Volume of all trades executed in the local bourse declined by -18.10%, but their total value increased +71.18%. Approximately 549.78 million units valued at ₦44,735.94 million were transacted across 55,465 deals.
FTGINSURE was the volume driver, accounting for 5.89% of all trading units, followed by ACCESSCORP (5.15%), FIRSTHOLDCO (5.08%), ZENITHBANK (5.03%), and DANGCEM (4.93%).
DANGCEM accounted for 46.26% of the total trade value, making it the most traded on the exchange.
FTNCOCOA topped the gainers’ chart, up by +10.00%, then trailed by FIDSON (+9.97%), DEAPCAP (+9.89%), CAVERTON (+9.40%), LIVESTOCK (+9.30%), STERLINGNG (+9.03%), and twenty-four others.
A total of twenty-nine stocks depreciated. With a price depreciation of -10.00% each, ETERNA and OMATEK topped the worst performers’ chart, followed by SCOA (-9.94%), FTGINSURE (-9.24%), SOVRENINS (-9.09%), LEGENDINT (-8.40%), and GUINEAINS (-6.47%).
Hence, the market breadth closed on a positive note, with 30 gainers and 29 losers. Sectoral performance was negative. The Insurance sector declined by -0.71%, followed by the Banking sector (-0.45%), and the Oil and Gas sector (-0.29%).
The Industrial goods sector and the Consumer goods sector increased by +1.88% and +0.25%, respectively. Zenith Bank Sees Gain on Huge Trading Volume
