Investors Gain N21.7 Billion as NGX Appreciates Further
Equity investors in the Nigerian Exchange (NGX) gain N21.7 billion on Thursday as the market appreciates further amidst earnings releases by companies. Consequently, the All-share index increased 11 basis points to 39,400.46 points as a month to date return expanded to 2.5%.
Meanwhile, today’s gain lowered year to date losses sustained by the local bourse to 1.9% as stock market capitalisation jumped to N20.574 trillion. Market sustained rally due to price appreciation in HONEYWELL, DANGCEM, ZENITH BANK and GTCO, driving positive sentiments on the bourse.
Meanwhile, the stock market breadth closed negative with 8 gainers versus 24 losers. Similarly, market activities closed on a higher note after the volume and value of stocks traded on the exchange appreciated 214.21% and 9.23%, respectively.
A total of 570.20 million units of shares valued at N2.28 billion were traded in 3,764 deals.
HONEYWELL led the volume chart, accounting for 67.37 per cent of the total volume of trades, followed by VITAFOAM (3.75%), FCMB (2.39%), JAPUALGOLD (2.26%), and STERLNBANK (2.11%) to complete the top five on the volume chart.
HONEYWELL topped the value chart accounting for 28.75 per cent of the total value of trade on the exchange. HONEYWELL, WEMABANK, and FLOUR MILLS topped the gainers’ chart, with their share prices inching upward by 10.00 per cent, 3.95 per cent, and 3.10 per cent, respectively.
On the other hand, TRIPPLEG led the losers’ table with its share price declining by 9.28 per cent to close at N0.88 after opening the day at N0.97.
Afrinvest said in a market report that performance across sectors under its coverage, performance was negative as 4 indices declined, 1 index gained while the AFR-ICT index closed flat. The Industrial goods index was the lone gainer, up 0.4%, as a result of buying interest in DANGCEM (+0.7%).
The Insurance and Banking indices led the losers, down 1.8% and 0.2% respectively, due to sell pressure on NEM (-6.3%), REGALINS (-8.5%), ETI (-1.7%) and FCMB (-1.3%).
In the same vein, the Oil & Gas and Consumer Goods indices fell by 23bps and 2bps respectively, driven by price depreciation in OANDO (-1.2%) and DANGSUGAR (-2.8%).
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“In the last trading session of the week, we expect the market performance to be bearish, driven by weakened investors’ sentiment and profit-taking”, analysts said.
Investors Gain N21.7 Billion as NGX Appreciates Further
