Equities Market Climbs by N1bn as Lightweight Stocks Rally
The Nigerian Exchange, NGX, saw more than N1 billion gain on Thursday as some lightweight stocks rallied. The equity market closed trading activities relatively flattish, while the market performance indicators inched higher marginally by+0.002%.
The market experienced strong mixed sentiment. Equities investors hunted after some medium and large-scale stocks, while profit-takers also book profit from the appreciated large-scale stocks
Stockbrokers reported that the market index or All-Share Index grew by 1.87 basis points today, representing a marginal increase of +0.002% to close at 99,842.82.
Given the positive direction of the trading activities on the exchange, trading activities ended the day on a mixed note. According to data from the local bourse, total volume traded decreased by -6.04%, while the total value traded was up by +53.64.
Approximately 1,299.96 million units valued at ₦25,326.36 million were transacted in 8,364 deals.
FBNH was the most traded stock in terms of volume, accounting for 67.03% of the total volume of trades, followed by FIDELITYBK (12.47%), TRANSCORP (2.59%), ACCESSCORP (1.80%), and AIICO (1.74%) to complete the top 5 on the volume chart,
Ticker: FBNH was also the most traded stock in value terms, accounted for 75.50% of the total value of trades on the exchange. CHAMPION and VERITASKAP topped the advancers’ chart for today with a price appreciation of 9.88 percent each.
Other gainers include ROYALEX, which popped higher by +9.84%, RTBRISCOE rose by +9.84%, market price of CHAMS advanced by 9.79%, and THOMASWY surged by +9.77% JOHNHOLT climbed by 9.68% along with twenty-seven others.
Seventeen stocks depreciated, according to stock market analysts. TRANSCOHOT was the top loser, with a price depreciation of -10.00%. Other loser included: REGALINS (-8.51%), FIDELITYBK (-4.15%), UCAP (-1.90%), FLOURMILL (-1.40%), and OANDO (-0.33%).
Given the direction of the transaction conducted in the local bourse, the market breadth closed positive, recording 34 gainers and 17 losers.
Today, the market sector performance was positive, as four of the five major market sectors inched higher. The Banking sector grew by +0.72%, followed by the Insurance sector which gained +0.29%.
The Consumer goods index rose by +0.22% and the Industrial sector advanced by +0.02%. The Oil & Gas sector closed unchanged. Overall, equities market capital grew gained ₦1.05 billion, representing a slight rise of +0.002%, to close at ₦56.48 trillion. #Equities Market Climbs by N1bn as Lightweight Stocks Rally
