Investors Portfolio Value Increased by N347bn in Equities Market
Equities investors’ portfolio value jumped by more than N347 billion as FCMB Group lists its public offer on the Nigerian Exchange, NGX. Trading activities in the domestic bourse ended on a green note amidst the fourth quarter of 2024 corporate earnings release.
Key performance indicators surged by 19 basis points, reflecting the latest bargain hunting on growth and value stock in the local market. While the market index or the Nigerian Exchange All-Share index, climbed by 0.19% on the day, market capitalisation surged 0.54%.
In its note, Atlass Portfolios Limited attributed the difference between the performance indicators to the listing of FCMB Group Plc’s public offer. Details of the local bourse showed that All-Share Index added 194.69 basis points in today’s trading session to close at 104,744.43.
Stockbrokers stated that investment sentiment remained strong, sustaining the previous day’s bullish momentum. Today, investors increased positions in medium- and large-cap stocks, such as HONYFLOUR, VITAFOAM, and others, as more companies released their financial reports.
However, market activities were mixed. Total volume traded increased by 17.96%, while the total value of all transactions conducted dropped by 21.04%. Atlass Portfolios Limited told investors that approximately 497.36 million units valued at ₦11,841.87 million were transacted across 13,716 deals.
In terms of volume, FBNH led the activity chart, accounting for 16.75% of the total volume of traded in the equities market. Other volume drivers include VERITASKAP (8.05%), UNVINSURE (5.40%), FIDELITYBK (4.99%), and FCMB (4.53%), rounding out the top five.
FBNH also emerged as the most traded stock in value terms, accounting for 20.43% of the total value of traded on the exchange. CHELLARAM and HONYFLOUR topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include NNFM (+9.98%), REDSTAREX (+9.89%), SKYAVN (+9.89%), ENAMELWA (+9.84%), VITAFOAM (+9.83%), and thirty-one others. Twenty-six stocks depreciated, according to transaction details on NGX. GUINEAINS was the top loser, with a price depreciation of -10.00%.
Other decliners include VERITASKAP (-9.30%), IKEJAHOTEL (-6.87%), ARADEL (-4.16%), NEIMETH (-2.41%), and ACCESSCORP (-1.50%). In that regard, the market breadth closed positive, recording 38 gainers and 26 losers.
In addition, the market sectoral performance was positive today, as three of the five major market sectors were up, led by the Industrial sector which appreciated by (1.16%), followed by the Consumer goods sector by (0.90%), the Insurance sector by (0.24%).
The Insurance and Banking sectors declined by 1.19% and 0.47% respectively. Overall, the equities market capitalisation of the Nigerian Exchange grew by N347.31 billion to close at ₦64.87 trillion. #Equities Investors Portfolio Value Increase by N347bn on NGX IAS 29: Nigeria Not Hyperinflation Economy – Financial Reporting Council
