Equities Market Index Rises as Investors Gain N15bn
The equities market index rose as investors recorded N15 billion gain on the Nigerian Exchange (NGX) trading platform. Following an improved buying sentiment, the key performance indicators of the Nigerian bourse increased by 0.03%.
The All-Share Index inched higher by 24.99 basis points session on Monday, reflecting a 0.03% uptick, to close at 97,747.27. This positive performance, building on last Friday’s momentum, was driven by investors renewed buying interest in some medium and large-scale stocks.
Top performers on NGX include WAPCO, OANDO, and others. However, market activities were mixed, as the total volume traded increased by 40.03% while the total value dropped by 21.15%.
In its market update, Atlass Portfolios Limited told investors that approximately 413.35 million units valued at ₦5,336.32 million were transacted across 9,004 deals. Ticker: JAPAULGOLD was the most traded stock in terms of volume, accounting for 43.35% of the total volume of traded in the market.
Other volume drivers include CONHALLPLC (8.92%), ACCESSCORP (7.66%), UBA (4.20%), and UCAP (2.46%) to complete the top 5 on the volume chart. ACCESSCORP emerged as the most traded stock in value terms, accounting for 14.55% of the total value of trades on the exchange. JOHNHOLT topped the advancers’ chart for today with a price appreciation of 9.97 percent, trailed by EUNISELL, which gained +9.92%.
Other gainers include BETAGLAS (+9.92%), WAPCO (+9.52%), TANTALIZER (+9.33%), ACADEMY (+9.19%), and twenty-three others. In the market, twenty-one stocks depreciated, according to stockbrokers.
MECURE was the top loser, with a price depreciation of -9.65%. Other decliners include THOMASWY (-8.85%), CHAMPION (-6.88%), GUINNESS (-4.62%), UPDC (-3.38%), and ACCESSCORP (-3.03%).
Based on the trading direction, the market breadth closed positive, recording 29 gainers and 21 losers. The Banking (-0.58%), Consumer Goods (-0.27%) and Oil and Gas (-0.08%) indices all closed in red, weighed down by selloffs in ACCESSCORP (-3.03%), GUINNESS (-4.62%) and CONOIL (-0.35%), respectively.
On the flip side, the Industrial Goods (+0.66%) and Insurance (+0.42%) indices recorded gains, driven by price appreciation in WAPCO (+9.52%) and CONHALL (+6.38%), respectively. Overall, the equities market capitalisation of the Nigerian Exchange gained N15.27 billion to close at ₦59.23 trillion. Naira Depreciates Ahead of 2-Week Automated FX Trading Trial
