Equities Investors Gain N714bn as NGX Index Rebounds
Equities investors gained more than N714 billion as the Nigerian Exchange (NGX) All-Share Index rebounded from the broader sell-off reported last week.
The domestic stock market opened the new week in positive territory, with key market performance indicators up 0.46%.
Stockbrokers saw fresh bargain hunting in mid-cap and blue-chip stocks, including OANDO, MTNN, FCMB, ARADEL, and FRISTHOLDCO, across major market sectors.
The All-Share Index added 1,113.76 basis points to close at 243,707.07. Reflecting investors’ buying interest, market capitalisation gained N714.33 billion, closing at ₦156.31 trillion.
Total volume of trades and the total value traded increased by +17.87% and +76.99%, respectively. Atlass Portfolio Limited said in an investors’ note that approximately 717.16 million units valued at ₦56,659.13 million were transacted across 73,321 deals.
FCMB accounted for 24.30% of trading volume in the market, followed by TIP (5.14%), JAIZBANK (5.04%), ABBEYBDS (3.61%), and ACCESSCORP (3.20%).
MTNN accounted for 16.01% of the total value of all trades, thereby making it the most traded on the exchange.
INTENEGINS topped the gainers chart, up +9.92%, trailed by TIP (+9.91%), ABCTRANS (+9.68%), ABBEYBDS (+9.63%), HMCALL (+8.89%), CONHALLPLC (+8.51%), and twenty-five others.
A total of thirty stocks depreciated. With a price depreciation of -10.00%, FIDSON topped the worst performers’ chart, followed by ACADEMY (-9.70%), RTBRISCOE (-9.43%), SUNUASSUR (-9.38%), LEARNAFRCA (-8.70%), and DAARCOMM (-6.57%).
Hence, market breadth closed on a positive note, with 31 gainers and 30 losers. Sectoral performance was positive today as four of the five major market sectors increased.
The Oil & Gas sector led with +0.87%, followed by the Insurance sector (+0.62%), the Banking sector (+0.59%), and the Consumer goods sector (+0.10%). Only the Industrial goods sector declined by -0.003%. Nigeria Treasury Bills Yields Ease Ahead of Midweek Auction
