Equities Investors' Wealth Rises by N63bn as NGX Rallies

Equities Investors’ Wealth Rises by N63bn as NGX Rallies

The equities investors in the Nigerian stock market saw their combined wealth rising midweek as the local exchange rebounded. According to data from the Nigerian Exchange (NGX), equity investors saw approximately N63.5 billion in gains as investors took positions in industrial sectors.

The renewed interest in some companies’ stocks lifted key performance indicators higher. As such, the Nigerian Exchange All-share index was strengthened while year-to-date return advanced above 30%. Data from the exchange showed that the All-share index surged by 0.17% at midweek to close at 67,100.49 points on the back of upbeat momentum in market sentiment.

This saw investors taking further positions in the industrial and insurance sectors as the market capitalization inched higher by 0.17% to N36.86 trillion. Due to the upbeat market sentiment, several stocks such as THOMASWY (9.81%), DAARCOMM (9.52%), CORNERST (6.45%), TRANSCORP (5.41%), and UBN (5.30%) stayed up as toast of investors.

At the close of the trading session, the exchange printed more gainers (18) than decliners (17). Analysis of sectoral performance showed that the Banking index was the only loser as the index plunged by 0.27% due to adverse price movements in some tickers.

Conversely, the Industrial Goods and Insurance sectors recorded gains of 0.95% and 1.58%. In addition, the Consumer Goods popped up by 0.01% while the Oil/Gas sector remained flat.

Stockbrokers said market activity was mixed with a substantial decrease in both the total number of deals and value as both fell by 13.25% and 42.86% to 5637 deals with a value of N4.46 billion.

The NGX report showed that the total volume for the day surged by 59.40% to 410 million units. At the close of the session, NEIMETH was the most traded security by volume with 163.20 million units valued at N259.49 million in 13 trades. #Equities Investors’ Wealth Rises by N63bn as NGX Rallies Dangote Denies Price Cut for Cement