Equity Investors See Large Gain as Nigerian Bourse Rallies
The Nigerian Exchange (NGX) edges higher on the first trading session in 2022 as market valuation expanded by a whooping N887 billion, consolidating the previous rally recorded last week.
Today’s growth follows investors’ positive sentiment in blue-chip stocks: BUACEMENT, FLOURMILL, ZENITH BANK and 15 others. Wema Bank today announced a resolution to raise N40 billion via a rights issue, thus share price jumped by about 8% as market price in the information.
Consequently, after closing positive last week, the Nigerian Exchange All Share Index expanded by 309.79 basis points, representing a growth of 0.73 per cent to close at 43,026.23 points.
Likewise, the equity market capitalisation sees a whooping jump totalling ₦886.76 billion to close at ₦23.18 trillion, following the listing of BUAFOODS at ₦40 per unit.
However, the market activities traded negatively as total volume and value traded dipped by 52.41 per cent and 84.67 per cent, respectively.
Market data shows that a total of 216.65 million units valued at ₦1.52 billion were transacted in 4,080 deals. CHAMS led the traded stocks in terms of volume, accounting for 13.78 per cent of the total volume of trades.
The company was followed closely by WEMABANK (7.90%), ZENITH BANK (5.09%), TRANSCORP (4.96%), and SOVERNINS (4.84%) to complete the top five on the volume chart.
ZENITH BANK emerged as the most traded stock in value terms, with 18.36 per cent of the total value of trades on the exchange.
NGX data shows that ACADEMY led on the gainers’ chart with a maximum price appreciation of 10.00 per cent, trailed by NEIMETH (8.00%) and BUACEMENT (7.31%).
Also, STANBIC share price jumped 5.56%, FLOURMILL expanded by 2.29%, ZENITH BANK gained 0.60%, UCAP rose 0.51%, WAPCO edged higher by 0.21% – including thirteen (13) others.
On the other hand, twenty-seven (27) stocks depreciated, led by ARDOVA, NNFM &VITAFOAM with price depreciation of 10.00 per cent each to close at ₦11.70, ₦7.2 & ₦20.25, respectively.
CHIPLC lost 6.33% of its share price, UACN down 5.26%, NB fell 4.00%, DANGSUGAR dipped by 2.59%, NGXGROUP dropped off 2.01%, UBN tumbled by 1.69%, FBNH sink by 0.88%, while AFRIPRUD slumped 0.79% and ACCESS declined by 0.54%.
Overall, the market breadth closed negatively, recording 18 gainers and 27 losers. Accordingly, the sector performance was relative negative, as three of the five sectors depreciated, led by the Consumer Goods (-0.92%).
The sector was trailed by Oil & Gas (-0.50%), and Insurance (-0.43%), while the Industrial Goods and Banking sectors grew by 2.97% and 0.39%, respectively. # Equity Investors See Large Gain as Nigerian Bourse Rallies
Read Also: NGX Edges Higher as Investors Position in Telcos, Banking Stocks
