Equities Investors Gain N786bn as Oil, Insurance Stocks Rally

Equities Investors Gain N786bn as Oil, Insurance Stocks Rally

Equities investors gained more than N786 billion on the Nigerian Exchange (NGX) as oil and gas and insurance stocks rallied.  The Nigerian bourse opened the week strong, sustaining its bullish trend as the All-Share Index surged 0.86% to 144,822.61 points.

The bargain hunting pushed year-to-date gains to 40.71% and boosted market capitalisation by N786.24 billion to N91.92 trillion.  The Nigerian Exchange growth was boosted by investing in blue-chip and medium-scale stocks across key market sectors.

Stockbrokers said the momentum was aided by moderating macroeconomic parameters and interest rate in the fixed income market.

However, market activities were down today as the total volume and total value of all transactions consummated dropped by -4.56% and -25.89%, respectively.

In a note, Atlass Portfolio Limited told investors that approximately 519.92 million units valued at N14,546.57 million were transacted across 35,490 deals.

In terms of volume, ELLAHLAKES led the activity chart, accounting for 15.45% of the total volume of all trades executed, followed by CHAMS (5.83%), STERLINGNG (4.77%), CUSTODIAN (4.21%), and GTCO (3.87%), rounding out the top five.

Ticker: GTCO emerged as the most traded stock in terms of value, accounting for 13.59% of the total value of trade on the exchange.

MANSARD and SEPLAT topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by ELLAHLAKES (+9.95%), CHAMS (+9.87%), OMATEK (+9.84%), SOVRENINS (+9.82%), DAARCOMM (+9.71%) and thirty-nine others.

Twenty-three stocks depreciated, stockbrokers reported. INTENEGINS was the top loser, with a price depreciation of -8.42%, trailed by THOMASWY (-7.72%), BERGER (-6.80%), ARADEL (-3.09%), CADBURY (-1.99%), and ACCESSCORP (-1.89%).

Market breadth closed positively, recording 46 gainers and 23 losers. All sectors closed in positive territory: Oil & Gas (+3.35%), Insurance (+3.13%), Commodity (+1.72%), Banking (+0.64%), Consumer Goods (+0.12%), and Industrial (+0.01%).

Trading activity showed mixed results—volume declined 4.56% to 519.92 million units and transaction values fell 25.89% to N14.55 billion, while deals surged 31.13% to 35,490, indicating increased frequency of smaller trades. #Equities Investors Gain N786bn as Oil, Insurance Stocks Rally#

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