Insurance, Banking Stocks Boost NGX All-Share Index
Insurance and banking stocks were top active securities that drove the Nigerian Exchange All Share Index higher at the beginning of the week.
Investing activities picked up further on Monday with significant interest in financial stocks ahead of Q4 earnings announcements.
The NGX All-Share Index rose by 26 basis points, supported by equities investors’ positive sentiment, which continues to improve even after N2.43 trillion gain posted last week.
Details from the NGX showed that market index advanced by 0.26% to settle at 147,427.95 points, and market capitalization rose by ₦247.21 billion to ₦93.97 trillion.
Market sentiment was bullish, reflected in a breadth ratio of 2.7x, as 41 advancing stocks outweighed 15 declining counters.
FCMB emerged as the most traded stock, accounting for 23.95% of total trading volume, followed by JAPAULGOLD (11.77%), ZENITHBANK (7.76%), FIDELITYBK (6.82%), and ACCESSCORP with 5.28%.
ZENITHBANK topped the value chart, accounting for 19.74% of the total value of trade. Tickers like MORISON, NPFMCRFBK, SOVRENINS, CAVERTON, and CHAMS topped the gainers’ list.
Meanwhile, DAARCOMM, LIVESTOCK, NAHCO, UNIONDICON, and JAIZBANK recorded the most significant losses.
Sectoral activity was predominantly bullish: insurance dominated with a 1.83% increase, followed by the banking index, up by 0.94%, industrial goods rising 0.28%, and consumer goods gaining 0.08%.
Conversely, the Oil & Gas and Commodity sectors remained unchanged. Trading metrics showed divergent patterns as share volume jumped 52.34% to 550.86 million units and the number of transactions climbed 42.94% to 30,090 deals, while transaction value dropped 6.60% to ₦13.86 billion
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