Equities Investors See N186bn Gain in Nigerian Stock Exchange
The Nigerian Exchange (NGX) expanded as equities investors gained about N186 billion. Key market performance indicators advanced by 0.27% as investors increased bets on stocks with growth potential.
Sustaining the prior session’s upward momentum, the market witnessed broad-based buying interest, with all major sectors posting gains.
The consumer goods sector led the rally, recording a daily gain of 1.25%. This marks the second consecutive session of gains, propelling the NGX-ASI above the 109,000 mark and pushing the equities market capitalization closer to ₦69 trillion threshold.
The Nigerian Exchange All-Share Index increased by 295.78 basis points to close at 109,059.33. Today, market activities increased as the total volume and total value of all trades surged by 295.98% and 624.04%, respectively.
In a note, Atlass Portfolios Investors Limited said approximately 531.29 million units valued at ₦19,808.09 million were transacted across 14,870 deals on the exchange.
In terms of volume, GTCO led the activity chart, accounting for 10.04% of the total volume of all trades, followed by ACCESSCORP (9.78%), FIDELITYBK (7.64%), NB (6.74%), and ZENITHBANK (5.15%), rounding out the top five.
MTNN emerged as the most traded stock in value terms, with 28.23% of the total value of trades on the exchange. MCNICHOLS and NNFM topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by CHAMPION (+9.91%), CAVERTON (+9.78%), FTNCOCOA (+9.65%), MAYBAKER (+9.62%), JOHNHOLT (+9.57%) and twenty-seven others.
Twenty-four stocks depreciated, according to stockbrokers. MULTIVERSE was the top loser, with a price depreciation of -9.63%. Other decliners include VERITASKAP (-4.76%), TRANSCORP (-4.65%), VFDGROUP (-2.45%), CADBURY (-1.88%), and GTCO (-0.65%).
With the improved sentiment, the market breadth closed positive, recording 34 gainers and 24 losers. Also, the market sectoral performance was positive.
All the market sectors were up, led by the consumer goods sector, which grew by 1.25%, followed by the oil & gas sector, which popped up by 0.75%, and the banking sector, which rose by 0.58%. The insurance sector climbed by 0.19%, and the industrial sector saw a marginal growth of 0.01%.
Overall, the equities market capitalisation of the Nigerian Exchange grew by ₦185.88 billion, representing a growth of 0.27%, to close at ₦68.54 trillion. #Equities Investors See N186bn Gain in Nigerian Stock Exchange#
