Equity Investors Post Gain as Nigerian Exchange Index Surges
Equity investors posted additional gains on Thursday as the Nigerian Exchange (NGX) closed the session on a positive note, buoyed by key performance indicators rising by 0.02%.
Though decliners outnumbered advancers, the market’s slight upturn highlighted positive sentiment. The market recorded sustained bargain hunting in selected medium- and large-cap stocks across key sectors.
Consequently, the All-Share Index added 32.14 basis points to close at 200,957.89. Likewise, market capitalisation gained ₦20.63 billion to close at ₦129 trillion.
Additionally, market activity was up today, with total trade volume and total value traded increasing by 26.05% and 30.54%, respectively. Stockbrokers reported that approximately 678.13 million units valued at ₦33,138.52 million were transacted across 42,222 deals.
ACCESSCORP drove volume, accounting for 20.02% units executed in the local bourse, followed by WEMABANK (15.70%), VERITASKAP (11.03%), ZICHIS (3.41%), and UBA with 2.70%. In terms of value traded, MTNN accounted for 33.51% of total trade, making it the most traded on the exchange.
PREMPAINTS and ZICHIS led the gainers chart, up +10.00% each, then trailed by LEGENDINT (+9.92%), JOHNHOLT (+9.87%), MCNICHOLS (+9.76%), REDSTAREX (+9.53%), LIVINGTRUST (+9.42%), and twenty-three others. A total of thirty-five stocks depreciated, according to the trading report.
With a price depreciation of -9.17%, UPL topped the worst performers’ chart, followed by SUNUASSUR (-8.88%), VERITASKAP (-6.98%), FTNCOCOA (-6.67%), NGXGROUP (-6.46%), and LINKASSURE (-6.06%). Hence, the market breadth closed on a negative note, with 30 gainers and 35 losers.
Sectoral performance was negative, suggesting sentiment is tightening. The Insurance sector declined by -0.82%, followed by the Industrial goods sector (-0.21%), and the Oil & Gas sector (-0.16%).
The Banking and Consumer goods sectors appreciated by +0.26% and +0.18%, respectively. #VFD Group Shrinks by 10% after Rights Issue
