Equity Investors Gain N14bn as NGX Sustains Rally

Equity Investors Gain N14bn as NGX Sustains Rally

Equity investors in the Nigerian Exchange (NGX) gain N14 billion on Tuesday as the market sustains its rally. Today’s positive outing marks the eleventh consecutive session’s rallies seen at the local bourse

Today, the Nigeria stock market surged by 0.05 per cent while year to date return hits 13.7% up from 13.6%, an uptrend that was driven by price appreciation in NB, SEPLAT and 26 others. Consequently, the All-Share Index rose by 25.21 basis points representing a 0.05 per cent growth, closed at 48,568.57 points.

Data from the Nigerian Exchange shows that market capitalization inched up by ₦14.31 billion, representing an increase of 0.05 per cent to close at ₦26.18 trillion. Similarly, the market activities were bullish, as the total volume and value traded grew by 41.52 per cent and 73.58 per cent, respectively.

Atlass Portfolios said in its market report that about 464.73 million units valued at ₦7.01 billion were transacted in 6,468 deals. TRANSCORP emerged as the most traded stock in terms of volume, accounting for 26.74 per cent of the total volume of trades.

The stock was followed closely by AIICO (4.43%), ZENITH BANK (4.20%), FBNH (3.98%), and FIDELITYBK (3.92%) to complete the top five on the volume chart.

Meanwhile, MTNN appeared as the most traded stock in value terms, with 38.76 per cent of the total value of trades on the exchange. ACADEMY topped the advancers’ chart with a price appreciation of 10.00 per cent.

The ACADEMY was followed closely by NB (8.41%), SEPLAT (6.80%), TRANSCORP (4.46%), UACN (4.35%), AFRIPRUD (3.45%), PRESCO (1.54%), FLOURMILL (1.41%), UCAP (0.76%), WAPCO (0.37%), NAHCO (0.37%) and seventeen (17) others.

On the flip side, twenty-three (23) stocks depreciated, topped by MULTIVERSE with a price depreciation of 8.70 per cent to close at ₦0.21. READ: Nigerian Exchange Goes South as Investors Book Profit

JAPAULGOLD (-6.25%), HONYFLOUR (-4.88%), FCMB (-3.21%), OANDO (-2.95%), ZENITHBANK (-2.94%), JBERGER (-2.81%), GTCO (-1.42%), ETI (-1.25%), UBA (-1.22%), MTNN (-0.47%) and STANBIC (-0.28%) also dipped in price.

Overall, the market breadth was positive, recording 28 gainers and 23 losers. Again, sectoral performance was positive, as four of the five sectors closed bullishly compared to the previous session, led by the Oil & Gas (3.35%), Consumer Goods (1.10%), Insurance (0.88%) and Industrial Goods (0.034%), respectively.

Despite positive momentum in other segments, the Banking sector tanked by 1.39 per cent as investors offloaded stocks. #Equity Investors Gain N14bn as NGX Sustains Rally