Investors Gain N163.2 Billion as Companies Release Results
Equity investors gain N163.2 billion on Tuesday as listed companies continue to release their second quarter of the financial year 2021 results. The sustain bargain hunting impacted stock market indices as the All-share index jumps 0.81 per cent, closing the day at 38,917.99 points.
Today gain lifted market capitalisation to N20.276 billion and moderate year to date losses to 3.4%
The Nigerian Exchange sees price movement in WEMA, COURTVILLE, UPDC, MTNN, AIRTELAFRI, UNITYBNK GUINNESS, FIDELITYBK, CUTIX, MANSARD, UNILEVER, and NAHCO.
However, market breadth remains negative with 12 gainers versus 26 losers.
NGX data shows that the volume of stocks traded on the exchange declined by 5.25 per cent while the value of trade appreciated by 11.77 per cent.
A total of 231.45 million units of shares valued at N2.13 billion, were traded in 4,651 deals.
TRANSCORP led the volume chart, accounting for 7.55 per cent of the total volume of trades, followed by JAIZBANK (7.17%) HONEYWELL (5.64%) WEMA (4.91%), and MBENEFIT (4.80%) to complete the top five on the volume chart.
MTNN led the value chart accounting for 17.67 per cent of the total value of trade on the exchange.
WEMA, UPDC, AIRTELAFRI topped the gainers’ chart, with their share prices advancing by 5.97 per cent, 5.93 per cent, and 5.69 per cent, respectively.
Meanwhile, FTNCOCOA led the losers’ table with its share price depreciating by 8.16 per cent to close at N0.45 after opening the day at N0.49.
Afrinvest said performance across sectors under its coverage was bearish as 4 indices lost, 1 gained while the Industrial Goods index closed flat.
The Insurance and Banking indices led the losers, down 1.0% and 0.8% respectively due to sell-offs in MBENEFIT (-5.1%), WAPIC (-1.9%), ACCESS (-2.2%) and ZENITH (-0.8%).
Followed by the Consumer Goods and Oil & Gas indices which fell by 0.3% and 0.2% respectively due to price depreciation in HONYFLOUR (-7.8%), ARDOVA (-1.8%), and OANDO (-0.6%).
On the flip side, the AFR-ICT was alone gainer, up 3.4% on the back of bargain hunting in MTNN (+1.8%) and AIRTELAF (+5.7%).
“In the next trading session, we anticipate a bullish performance on the domestic bourse to be driven by bargain hunting activities.”, analysts said.
Read Also: NGX Edges Higher on Bargain Hunting in Bellwether Stocks
Investors Gain N163.2 Billion as Companies Release Results
