Equities Investors Gain N74bn as Transcorp, BUA Rally
The equities market rebounded with about N74 billion in daily gains on Thursday after a negative performance that spanned three days. The downward trend observed during the intraday trading session was reversed by renewed interest in bellwether companies stocks.
According to information from the local bourse, key performance indicators rose by +0.13%. Even though the market capitalisation of stocks increased, overall performance indicated a decline in the market’s breadth.
Today’s rally followed renewed buying interest in some recently depreciated medium- and large-scale stocks such as TRANSCORP, ZENITHBANK, BUACEMENT, and others, Atlass Portfolios Limited said in an update. Trading results posted on the Nigerian Exchange website revealed that the market index, or All-Share Index, increased by 130.66 basis points to close at 104,387.47.
Furthermore, market activities inched higher, according to stockbroker reports. Total volume and total value traded for the day increased by +12.78% and +35.74%, respectively. Atlass Portfolios Limited told investors that approximately 336.82 million units valued at ₦9,285.04 million were transacted in 8,790 deals.
UBA was the most traded stock in terms of volume, accounting for 19.50% of the total volume of trades. The pan-African lender was followed by ACCESSCORP (9.77%), ZENITHBANK (6.65%), TRANSCORP (6.29%), and GTCO (5.81%) to complete the top 5 on the volume chart.
Nestle was the most traded stock in value terms, with 19.74% of the total value of trades on the exchange. JULI topped the advancers’ chart for today with a price appreciation of 10.00 percent.
The stock of the pharmaceutical retailer was trailed by TRANSCORP, which increased by +9.96%. Other gainers include INTENEGINS (+9.66%), ETRANSACT (+9.65%), GUINEAINS (+8.33%), LINKASSURE (+7.50%), and sixteen others.
Twenty-eight stocks depreciated, according to the equities market report for today. DEAPCAP was the top loser, with a price depreciation of -10.00% each. Joining negative performers, CAVERTON lost 8.57% of its market valuation today. SUNUASSUR shed 7.20% of its market weight and NASCON was priced downward by 7.02%.
JBERGER (-4.75%), and FBNH (-4.55%) also dipped in price. Based on the direction, market breadth closed negative, recording 22 gainers and 28 losers.
However, the market sector performance was positive, as three of the five major market sectors closed positive.
The Banking sector grew by +0.90% followed by the Insurance sector which rose by +0.57% while the Industrial sector popped up 0.42%. The Consumer goods sector was down by -0.09%. The Oil & Gas sector closed flat.
Overall, the equities market capitalisation advanced by ₦73.88 billion, representing a growth of +0.13%, to close at ₦59.02 trillion. #Equities Investors Gain N74bn as Transcorp, BUA Rally
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