Equities Investors Wealth Rises by N152bn as NGX Index Rises

Equities Investors Wealth Rises by N152bn as NGX Index Rises

Equities investors combined wealth rose by N152 billion as bargain hunting lifted the Nigerian Exchange (NGX) All Share Index. On Thursday, the equities market sustained its positive momentum as key performance indicators rose by 0.25% apiece.

According to information obtained from the local bourse, the All-Share Index grew by 250.91 basis points to close at 98,760.59.  The uptrend was fueled by renewed buying interest in some large and medium-cap stocks like CONOIL, AFRIPRUD, WAPCO, and others.

Investors have gained a total of N396 billion growth over three successive trading days, underscoring sustained bullish sentiment, Atlass Portfolio Limited said in a note.

Due to trading direction, equities market activities inched higher as the total volume and total value trades grew by 52.97% and 8.94% respectively.

Stockbrokers said in a note that approximately 489.65 million units valued at ₦7,057.27 million were transacted across 8,304 deals. FCMB led the volume drivers, accounting for 15.85% of the total volume of traded in the stock market today.

Other volume drivers include ETRANSACT (14.32%), HMCALL (9.77%), JAPAULGOLD (6.86%), and NSLTECH (3.42%).  ARADEL emerged as the most traded stock in value terms, accounting for 10.68% of the total value of traded on the exchange.

CONOIL, and TANTALIZER topped the advancers’ chart for today with a price appreciation of 10.00 each, trailed by CUSTODIAN which gained +9.92%.  Other gainers include AFRIPRUD (+9.79%), GOLDBREW (+9.75%), PZ (+9.11%), GUINEAINS (+9.09%) and twenty-three others.

Today, twenty-one stocks depreciated in the local bourse. DAARCOMM was the top loser, with a price depreciation of -8.47%.

Other decliners include CAVERTON (-8.16%), OMATEK (-7.46%), ABCTRANS (-7.41%), CONHALLPLC (-7.11%), and SOVRENINS (-5.81%).  At the end of the trading session, the market breadth closed positive, recording 30 gainers and 21 losers.

On sectoral performance, Oil & Gas (+2.74%), Insurance (+0.82%), Industrial Goods (+0.62%), and Consumer Goods (+0.32%) closed up at the close of today’s rendition from price appreciations in OANDO (+3.73%), SUNUASSUR (+8.08%), WAPCO (+6.06%), and PZ (+9.11%).

On the flipside, banking (-0.22%) closed bearish on account of sell pressures in ZENITHBANK (-0.79%). Overall, the equities market capitalisation rose by N152.10 billion to settle at N59.87 trillion on Thursday.#Equities Investors Wealth Rises by N152bn as NGX Index Rises  Nigeria’s Progress on Reforms Key to Rating Prospects –Fitch