Equities Investors Wealth Rises as Nigerian Exchange Rally
Equities investors on the Nigerian Exchange (NGX) ended the trading activities for the week on a positive note as sentiment improved. Based on transactions direction, key performance indicators popped higher by 0.13% while year to date return inched higher near annual inflation rate.
Despite experiencing three consecutive days of decline earlier in the week, the market managed to post a modest week-on-week gain of 0.09%, stockbrokers at Atlass Portfolios Limited said. The market index or All-Share Index inched higher by 129.44 basis points to close at 97,606.63.
On Friday, the market reversed its downward trend, closing the week in the green, buoyed by bargain hunting in some recently depreciated medium and large cap stocks such as STERLINGNG, FIDSON, GTCO, and others.
This resurgence led to a ₦74 billion boost in investors’ wealth, stockbrokers said. In the market, trading activities inched higher as the total volume and total value traded increased by 9.61% and 20.33% respectively.
In its update, Atlass Portfolios Limited revealed that approximately 304.43 million units valued at ₦5,599.37 million were transacted across 6,950 deals. ACCESSCORP was the most traded stock in terms of volume, accounting for 22.43% of the total volume of traded in Nigerian Exchange.
Other volume drivers include FIDELITYBK (14.18%), UBA (8.36%), ZENITHBANK (6.48%), and STERLINGNG (4.09%) to complete the top 5 on the volume chart. ACCESSCORP also emerged as the most traded stock in value terms, accounting for 23.93% of the total value of trades on the exchange.
STERLINGNG topped the advancers’ chart with a price appreciation of 9.45 percent, trailed by CONHALLPLC with (+9.45%) growth, MECURE (+9.19%), REGALINS (+9.09%), FIDSON (+8.24%), SUNUASSUR (+7.59%) and twenty-five others.
Market showed that eighteen stocks depreciated. DEAPCAP was the top loser, with a price depreciation of -9.93%. Other decliners include DAARCOMM (-9.52%), DANGSUGAR (-3.13%), OANDO (-2.71%), NASCON (-1.32%), and ELLAHLAKES (-0.71%).
Based on trading direction, the market breadth closed positive, recording 31 gainers and 18 losers. Sectoral performance in the market was mixed, with two of the five major sectors recording losses.
The Consumer goods and Insurance sectors dropped by 0.18% and 0.05% respectively. On the other hand, the Banking and Industrial sectors posted gains of 1.06% and 0.01%, respectively, while the Oil & Gas sector closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦74.38 billion to close at ₦56.09 trillion on Friday. # Equities Investors Gain N74bn as Nigerian Exchange Rally
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