Equity Investors Gain N122bn as Stanbic, Insurance Names Rally
Equity investors gained over N122 billion as Stanbic IBTC, BUA Foods and others rallied on the Nigerian Exchange (NGX) trading platform.
The Nigerian stock market opened the new week on a positive note, as key market performance indicators advanced by 0.13%, though the rally was soft compared to recent past trend.
The upbeat was driven by sustained and increased buying interest across stocks in major sectors, especially the Insurance sector, recording a notable growth of 9.74% in today’s trading session.
Trading details from the Nigerian Exchange showed that the market index or All-Share Index added 193.56 basis points to close at 145,948.47 basis points.
However, market activities retreated as the total volume and total value of all trades executed decreased by -4.52% and -40.17% respectively.
In a note, Atlass Portfolio Limited told investors that approximately 2,115.72 million units valued at N19,399.77 million were transacted across 40,435 deals.
In terms of volume, LINKASSURE led the activity chart, accounting for 33.28% of the total volume of all trades executed on the exchange, followed by UNIVINSURE (10.90%), AIICO (7.32%), STERLINGNG (5.69%), and VERITASKAP (3.53%), rounding out the top five.
STANBIC emerged as the most traded stock in value terms, accounting for 8.93% of the total value of all trades on the exchange.
AIICO, SUNUASSUR, VERITASKAP, STANBIC, TIP, UNIVINSURE, and UPDC topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
The gainers were trailed by CORNERST (+9.98%), MANSARD (+9.97%), ELLAHLAKES (+9.94%), INTENEGINS (+9.94%), ENAMELWA (+9.93%) and twenty-eight others.
Thirty-six stocks depreciated, where ABBEYBDS and ABCTRANS were the top losers, with a price depreciation of -10.00% each, as UACN (-9.99%), VFDGROUP (-9.70%), WAPCO (-9.28%), HONYFLOUR (-6.25%), and TANTALIZER (-1.48%) also dipped in price.
The market breadth closed positive, recording 40 gainers and 36 losers on the first trading session in the week. In addition, the market sectoral performance was positive.
The Insurance sector surged by +9.74% followed by the Consumer goods sector, up by +0.98%, and the Banking sector climbed by 0.44%. The Industrial and Oil & Gas sectors dropped by -1.47% and -0.56% respectively.
Overall, the equity market capitalisation rose by N122.45 billion, representing a growth of 0.13%, settling at N92.34 trillion. #Equity Investors Gain N122bn as Stanbic, Insurance Names Rally#
