Equities Investors See N114bn Gain in Nigerian Exchange
In the equities market, investors that were trading highs and lows on the Nigerian Exchange (NGX) gained more than N114 billion on Thursday due to bargain hunting in banking, amd industrial names, among others.
Renewed demand for stocks pushed key performance indicators higher, with Nigerian Exchange All-share index increasing by 201.74 basis points, indicating a change of 0.20% gain to close at 99,832.25. As a result, year-to-date return rose to +33.5%.
According to data from the local bourse, the total volume traded declined by 40.8% to 502.60 million units, with a value of N8.65 billion, and exchanged in 9,686 deals.
In the previous trading session, 848.97 million units of shares valued at N16.55 billion was exchanged in 8,064 deals. ZENITHBANK was the most traded stock by both volume and value at 71.22 million units and N2.52 billion, respectively, stockbrokers said.
Performance across the sectors mirrored the overall market sentiment, as the Insurance (+1.8%), Banking (+1.0%), Consumer Goods (+0.3%), and Industrial Goods (+0.1%) indices recorded gains, while the Oil & Gas index closed flat
As measured by market breadth, market sentiment was positive (1.6x), as 28 tickers gained relative to 18 losers. NB (+10.0%) and UNITYBNK (+9.9%) recorded the most significant gains of the day, while ETI (-9.9%) and DAARCOMM (-8.8%) topped the losers’ list.
Overall, equities market capitalisation of the Nigerian Exchange advanced by N114.11billion to close at approximately N56.47 trillion. #Equities Investors See N114bn Gain in Nigerian Exchange Selloffs Provoke Spike in Nigerian Treasury Bills Yield
