Equities Investors See N46bn Gain as Oil Stocks Rally
Equities investors on the Nigerian Exchange (NGX) gained about N46 billion as oil stocks continue to gaining momentum in the local bourse.
The market ended the trading session on positive note after huge increase in market valuation at the beginning of the week.
Key performance indicators rose by 0.08%. The market index or the All-Share Index advanced 79.79 basis points to close at 96,873.74 points.
The market rally has been driven by increased buying interest in large and medium-cap. Stocks including oil stocks. ETERNA, BERGER, OANDO, and others were among major gainers today.
According to data from the Exchange, market activities inched low as the total volume and total value traded dropped by 5.04% and 5.67% respectively.
In its market update, market analysts at Atlass Portfolios Limited said approximately 473 million units valued at ₦10,411.32 million were transacted across 12,532 deals.
ACCESSCORP was the most traded stock in terms of volume, accounting for 22.51% of the total volume of trades, followed by OANDO (9.94%), PRESTIGE (6.72%), UBA (4.27%), and TRANSCORP (3.76%) to complete the top 5 on the volume chart.
Again, OANDO emerged as the most traded stock in value terms, with 41.49% of the total value of trades on the exchange.
CILEASING, GUINEAINS, and IMG topped the advancers’ chart with a price appreciation of 10.00 percent each. These stocks were trailed by ETERNA which popped up by +9.90%.
Other gainers include ETRANZACT (+9.82%), DEAPCAP (+9.38%), LEARNAFRCA (+8.49%), BERGER (+8.39%) and twenty others.
Thirty stocks depreciated during the trading session, according to data obtained from the Nigerian Exchange. RTBRISCOE was the top loser, with a price depreciation of -10.00%.
Other decliners include ABBEYBDS (-9.96%), MCNICHOLS (-9.68%), MAYBAKER (-4.05%), JAIZBANK (-3.59%), and ZENITHBANK (-1.79%).
Given the trading direction, the market breadth closed negative, recording 28 gainers and 30 losers. Stockbrokers said the market sector performance was negative as four of the five major market sectors were down.
The Insurance sector dropped by 0.35%, the Consumer goods sector dipped by -0.30%, the Banking sector fall by -0.06% and the Industrial sector by (-0.02%). The Oil & Gas sector was a lone gainer, up by 0.59%.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦45.84 billion to close at ₦55.65. #Equities Investors See N46bn Gain as Oil Stocks Rally
