Equities Market Index Climbs as Investors Gain N331 billion
The equities market index climbed as sustained buying interest on major stocks caused investors combined wealth to increase by more than N331 billion. The Nigerian Exchange (NGX) opened trading activities on a positive note, continuing the upward momentum recorded last week.
Investors demand for growth; value stocks heated up the session amidst inflation rate pressure. Key performance indicators improved, while some stock traders remained optimistic about greener trading sessions in December.
Both the NGX Index and equities market capitalisation advanced by 0.55%, according to data from the local bourse. The All-Share Index rose by 544.57 basis points to close at 99,922.63.
Today’s bullish performance was driven by heightened investor interest in some medium- and large-scale stocks, Atlass Portfolios Limited told investors in a note.
Top gainers include ARADEL, INTBREW, OANDO, and others. Over the last five trading sessions, this upward trajectory has resulted in a cumulative ₦1.10 trillion increase in investors’ wealth, Atlass Portfolios Limited said.
Reflecting the mood, equities market activities were up. Total volume and total value traded on the NGX platform grew by 36.13% and 58.75%, respectively. Stockbrokers said approximately 740.89 million units valued at ₦16,877.33 million were transacted across 10,430 deals.
In terms of volume, STERLINGNG led the activity chart, accounting for 26.61% of the total volume of traded in the local bourse. Other volume drivers include WEMABANK (20.33%), ETRANZACT (9.47%), ACCESSCORP (2.77%), and UBA (2.38%).
ARADEL emerged as the most traded stock in value terms, accounting for 49.77% of the total value of trades on the exchange. ROYALEX and LIVINGTRUST topped the advancers’ chart for today with a price appreciation of 10.00 each.
These star performers were trailed by INTBREW, which gained +9.90%. Other gainers include GUINEAINS (+9.84%), CAVERTON (+9.60%), AUSTINLAZ (+9.26%), ARADEL (+9.13%), and twenty-eight others.
Twenty-five (25) stocks depreciated, according to data from the Nigerian equities market. UPL was the top loser, with a price depreciation of -9.81%. Other decliners include HMCALL (-9.62%), INTENEGINS (-9.52%), AFRIPRUD (-6.96%), NEIMETH (-4.50%), and GTCO (-1.79%).
At the end of the trading session, the market breadth closed positive, recording 35 gainers and 14 losers. Nevertheless, the market sector performance was negative, as three of the five major market sectors went south.
The insurance index dropped by 0.96%, followed by the banking sector, which nosedived by 0.06%, and the oil & gas sector lost 0.02%.
The consumer goods and industrial sectors grew by 1.24% and 0.09%. Overall, the equities market capitalisation of the Nigerian Exchange rose by N331.46 billion to close at N60.57 trillion. Nigeria’s Eurobonds Yield Sinks to 9% as Demand Heats Up
