Equities Investors See N405bn Gain on NGX, Heavyweights Rally
In the Nigerian Exchange (NGX) trading platform, transactions on mid- and high-cap stocks were positive, with equities investors recording about N405 billion in capital appreciation on Wednesday.
Stockholders ramped up more shares across sectorial indexes amidst an ongoing rally that has pushed key performance indicators above multi-year highs in the stock market.
The market capitalisation advanced on the back of strong demand in market heavyweights: DANGCEM (+4.50%), MTNN (+3.23%), and OANDO (+6.32%), data from the Nigerian bourse revealed.
Boosted by positive trading activities, all share index rose by 0.56% to 114,659.11 points. This uptick translated into a ₦404.5 billion increase in market capitalization, which settled at ₦72.3 trillion, reflecting renewed investor confidence.
At the end of today’s trading session, the NGX All-Share Index closed bullish at 114,659.11 points, gaining 0.56%. Stockbrokers attributed this upward trajectory to price appreciation in some mid to high capitalized stocks.
The market experienced noticeable interest in Oando, Transcorp Plc, and some banking names, among others. Trading records showed that OANDO gained 6.32%, JAIZABNK was up by 6.11%, and FCMB price surged by 5.00%.
Also, DANGCEM climbed by 4.50%, MTNN price increased by 3.23%, TRANSCORP did 1.11%, and UCAP edged higher slightly by 0.79%. Tickers: ACCESSCORP jumped by 0.68%, DANGSUGAR inched up by 0.50%, among others.
The rally nudged the year-to-date return to 11.40%, ahead of Nigeria’s inflation date for May. Trading details revealed that the total value and volume of stocks traded decreased by 24.80% to N14.19 billion and 27.81% to 471.15 million units, respectively, executed in 20,538 deals.
The top three gainers were ABCTRANS, BETAGLAS and BERGER, with positive returns of 10.00%, 10.00%, and 9.98%, respectively. The top losers were ABBEYBDS, NCR and VITAFOAM, with declines of -7.50%, -7.09%, and -6.64%, respectively.
With respect to volume traded, FCMB registered the highest with an exchange of 40.29 million units, followed by UBA and ACCESSCORP, with 36.54 million and 35.05 million units, respectively. Meanwhile, SEPLAT traded the highest value at N 1.62 billion, followed by ZENITHBANK and MTNN, with N 1.44 billion and N 1.41 billion, respectively.
Sectoral performance was largely bearish. For specifics, the consumer goods (-1.39%), banking (-0.48%), and insurance (-0.37%) indexes depreciated on the back of profit-taking in names like INTBREW (-4.11%), UBA (-3.13%), and CORNERST (-5.37%), respectively.
However, the Industrial Goods (+2.23%) and Oil & Gas (+0.73%) indexes edged higher, following buying interest in DANGCEM (+4.50%) and OANDO (+6.32%), respectively, while the Commodity Index closed flat. #Equities Investors See N405bn Gain on NGX, Heavyweights Rally US Energy Agency Upgrades Brent Price Forecast for 2025
