Equities Investors See N59bn Gain as Banking Index Pops
The Nigerian Exchange (NGX) market capitalisation rose as equities investors gained about N59 billion. The surge followed buying interest in banking names with support from the industrial index.
Key performance indicators advanced, pushing year-to-date return near annual inflation rate of 34.19%.
Data from the Nigerian bourse showed that the all-share index climbed by 103.95 basis points to close at 100,075.59. In two days, equities investors’ wealth grew by ₦229 billion, according to Atlass Portfolios Limited.
Given the trading pattern experienced, stockbrokers said market activities inched higher as the total volume and total value traded increased by +1.64% and +0.78% respectively.
Atlass Portfolios Limited said in email note that approximately 368.39 million units valued at ₦7,424.73 million were transacted across 8,151 deals.
ZENITHBANK was the most traded stock in terms of volume. Transactions on the bank stock accounted for 15.63% of the total volume of traded.
Other volume drivers include ACCESSCORP (10.00%), GTCO (7.94%), JAIZBANK (7.71%), and UBA (5.53%) to complete the top 5 on the volume chart.
Also, ZENITHBANK also emerged as the most traded stock in value terms, with 30.27% of the total value of trades on the exchange.
UCAP topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by CUTIX which gained +9.84%. Other gainers are SUNUASSUR (+7.75%), CORNERST (+7.69%), UACN (+7.42%), HONYFLOUR (+4.55%), and thirteen others.
In the market today, fifteen stocks depreciated, according to data from the local bourse. REDSTAREX was the top loser, with a price depreciation of – 9.82%.
Other decliners are MCNICHOLS (-9.01%), ETERNA (-4.44%), FTNCOCOA (-2.17%), JAPAULGOLD (-2.04%), and WEMABANK (-0.75%).
At the close of trading session, the market breadth closed positive, recording 19 gainers and 15 losers. Nonetheless, the market sector’s performance was negative.
Sectoral results showed that three of the five major market sectors ended in red. The Insurance sector dropped by 0.36%, followed by the Oil & Gas sector, which dipped by 0.26%, while the Consumer goods sector lost 0.07%.
On the positive side, the Banking and Industrial sectors grew by +0.61% and +0.07%, respectively. Overall, equities market capitalisation of the Nigerian Exchange gained ₦58.99 billion to close at ₦56.67 trillion. NAICOM Unveils Portal to Resolve Complaints on Insurance
