Financial, Oil Stocks Boost NGX Index, Investors Gain N1.22trn
Financial and oil stocks, including FirstHoldco, Zenith Bank, Access Holdings, and Aradel Holdings, boosted the Nigerian Exchange (NGX) indicators by about N1.22 trillion in capital appreciation on Tuesday.
The Nigerian market opened trading for the month in bullish territory, with key market performance indicators up 0.77%. The market recorded further gains for the fourth consecutive session, driven by bargain hunting in mid-cap and blue-chip stocks.
ARADEL, ACCESSCORP, HBMNG, ZENITHBANK, and others recorded gains, lifting the Nigerian bourse’s performance. AIICO (+6.38%), FIRSTHOLDCO (+1.17%), NESTLE (+5.83%), and HBMNG (+4.48%) recorded positive price movements.
Consequently, the All-Share Index added 1,883.24 basis points in today’s trading session, reflecting a 0.77% increase to close at 246,082.63. Likewise, market capitalisation rose ₦1,216.46 billion to close at ₦158.96 trillion.
Total volume of all trades and their total value traded increased by 7.44% and 5.35%, respectively. Stockbrokers reported that approximately 651.32 million units, valued at ₦40,772.90 million, were transacted in 43,760 deals.
ACCESSCORP drove volume, accounting for 19.97% of all units traded in the market, followed by CMFC (8.92%), LINKASSURE (5.58%), GTCO (4.94%), and NB with 4.55%.
MTNN topped the value chart, accounting for 11.52% of the total value of all trades, making it the most actively traded on the exchange.
FTNCOCOA and MCNICHOLS led the gainers chart, up by +10.00% each, then trailed by SUNUASSUR (+9.94%), SOVRENINS (+9.57%), CAVERTON (+9.52%), MAYBAKER (+9.46%), ARADEL (+8.83%), and thirty-three others.
A total of eighteen stocks depreciated. With a price depreciation of -9.72%, TRIPPLEG topped the worst performers’ chart, followed by ABCTRANS (-9.52%), NAHCO (-9.22%), RTBRISCOE (-9.21%), UNILEVER (-3.51%), and GUINEAINS (-2.67%).
Hence, market breadth closed on a positive note, with 40 gainers and 18 losers. Sectoral performance was positive today, with all five major market sectors advancing.
The Oil & Gas sector appreciated by +3.87%, followed by the Insurance sector (+3.34%), the Banking sector (+0.87%), the Consumer goods sector (+0.87%), and the Industrial goods sector (+0.71%). Global Equities Markets Gain Momentum as Energy Costs Ease
