Equity Investors Gain N209bn as FirstHoldco, GTCO Rally
Equity investors gained about N209 billion as Nigerian Exchange (NGX) recorded price appreciation in GTCO, FirstHoldco, Lafarge Africa, Aradel, among others.
The local bourse surged after the Easter break, with key market performance indicators rising by 0.16%, according to stockbrokers’ reports.
The uptick reflected fresh positive sentiment, driven by bargain hunting in some medium- and large-cap stocks with strong fundamentals across major market sectors.
Stockbrokers identified FIRSTHOLDCO (9.1%), GTCO (2.46%), WAPCO, and ARADEL as notable gainers driving momentum in the local bourse on Tuesday.
The market index, or All-Share Index, surged by 297.14 basis points to close at 201,996.03. Likewise, Market Capitalisation increased by ₦191.23 billion, or 0.15%, to ₦129.99 trillion.
The total volume of all trades and the total value increased by 86.21% and 93.77%, respectively, according to data from the Nigerian bourse.
In its market update, Atlass Portfolio Limited reported that approximately 1,042.73 million units valued at ₦37,325.62 million were transacted across 77,534 deals.
WEMABANK topped volume drivers, accounting for 24.58% of total units executed in the Nigerian bourse to emerge as the most traded, followed by ACCESSCORP (10.89%), VFDGROUP (9.29%), FIRSTHOLDCO (5.48%), and GTCO (4.92%).
Also, WEMABANK accounted for 18.12% of total trades executed on the stock market, making it the most traded on the exchange.
TRANSEXPR topped the gainers chart, up by +9.86%, trailed by OMATEK (+9.76%), CADBURY (+9.53%), FIRSTHOLDCO (+9.10%), FTGINSURE (+6.50%), CORNERST (+4.62%), and eighteen others.
A total of thirty-six stocks depreciated. With a price depreciation of -10.00%, ELLAHLAKES topped the worst performers’ chart, followed by DAARCOMM (-9.95%), CHAMS (-9.87%), JOHNHOLT (-9.71%), SUNUASSUR (-9.68%), and UPDC (-9.68%).
Hence, the market breadth closed on a negative note, with 24 gainers and 36 losers. Today, the market sectoral performance was positive. The Banking sector increased by +1.46%, followed by the Oil & Gas sector (+0.12%), and the Consumer goods sector (+0.10%).
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