Equity Investors Gain N400bn, MRS Delists from Nigerian Exchange
The Nigerian equities market sustained its bullish run on Monday, gaining about N400 billion as the local bourse opened the week’s trading on a positive note, despite mixed outcomes in key performance indicators.
The Nigerian Exchange (NGX) all-share index climbed by 0.53%, adding 713.58 basis points to close at a new all-time high of 135,166.51.
As a result of sustained hunting for stocks with strong fundamentals, equity market capitalization surged by ₦399.88 billion, representing a 0.47% increase to settle at ₦85.46 trillion.
This gain lifted the year-to-date (YTD) return to 31.32%, underscoring sustained investor optimism and renewed confidence in market fundamentals
However, the marginal divergence between the index and the market capitalization was attributed to the delisting of MRS Oil Nigeria Plc’s entire issued share capital from the Exchange.
Investor sentiment remained broadly positive, as reflected in the overall market breadth. The local bourse maintaining its positive streak, buoyed by continued bargain hunting and the release of encouraging half-year financial results from some listed companies.
However, market activities were mixed today as the total volume of all trades increased by +11.47%, while the total value of all transactions closed declined by -4.14%.
In its note, Atlass Portfolio Limited told investors that approximately 795.59 million units valued at ₦23,231.08 million were transacted across 37,626 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 15.53% of the total volume of all trades, followed by FCMB (8.64%), JAPAULGOLD (5.57%), ZENITHBANK (3.92%), and ACCESSCORP (3.67%), rounding out the top five.
FIDELITYBK also emerged as the most traded stock in value terms, accounting for 11.14% of the total value of trades on the exchange.
ACADEMY topped the advancers’ chart with a price appreciation of 9.99 percent, trailed by CHAMPION with (+9.98%) growth, TRIPPLEG (+9.97%), MAYBAKER (+9.94%), UACN (+9.92%), DAARCOMM (+9.88%), and thirty-eight others.
Twenty-five stocks depreciated, according to data from the Nigerian bourse. LIVESTOCK was the top loser, with a price depreciation of -10.00%. Other decliners include TIP (-9.98%), NGXGROUP (-6.02%), AFRIPRUD (-4.94%), FTNCOCOA (-3.31%), and ZENITHBANK (-1.76%).
Stockbrokers said the market breadth closed positive, recording 44 gainers and 25 losers. In addition, the market sectoral performance was positive. Performance across sectors was broadly positive. The insurance sector led with a 2.54% gain, followed by consumer goods (+1.29%) and industrial goods (+0.64%).
The Oil & Gas and Commodity sectors posted marginal gains of 0.22% and 0.01%, respectively, while the Banking sector declined by 0.69% due to mild profit-taking. #Equity Investors Gain N400bn, MRS Delists from Nigerian Exchange Naira Depreciates Against Dollar Despite CBN FX Injections
