Investors Record N65bn Gain as Nigerian Bourse Rally
Equities investors on the Nigerian Exchange (NGX) recorded more than N65 billion as gain over fresh bargain hunting in value stocks.
The local bourse saw year-to-date return advances as banking, insurance and industrial goods indices ended today’s trading session positively.
The benchmark index rebounded by 12bps in today’s session, settling at 95,895.92 points, while market capitalization gained N65.05 billion to close at N54.45 trillion.
This rebound was driven by renewed momentum in OANDO (+9.90%) and buying interest in STANBIC (+6.74%) and SEPLAT (+1.28%), which outweighed sell pressures in TRANSCOHOT (-3.97%), TRANSCORP (-1.37%), and UBA (-1.32%).
Trading records showed that the NGX All-Share Index added 114.24 basis points today, reflecting a 0.12% increase to close at 95,895.92 points on Tuesday.
Trading activities in the market ended on a mixed note, Data showed that total volume traded reduced by 71.41%, while the total value traded was up by 0.50%.
Approximately 1,013.95 million units valued at ₦7,687.61 million were transacted across 8,295 deals, Atlass Portfolios Limited said in an update.
JAIZBANK was the most traded stock in terms of volume, accounting for 64.27% of the total volume of traded, followed by STERLINGNG (5.32%), INTBREW (2.80%), FCMB (2.16%), and ACCESSCORP (2.00%) to complete the top 5 on the volume chart.
JAIZBANK also emerged as the most traded stock in value terms, accounting for 19.48% of the total value of trades on the exchange. LEARNAFRCA topped the advancers’ chart for with a price appreciation of 9.94 percent.
Other gainers include OANDO (+9.90%), CUTIX (+9.85%), RTBRISCOE (+9.63%), UPL (+8.57%), TANTALIZER (+8.33%), and thirteen others.
Twenty-three stocks depreciated, according to data from the Lagos bourse. THOMASWY was the top loser, with a price depreciation of -9.71%. Other decliners include OMATEK (-6.85%), FTNCOCOA (-6.80%), JAPAULGOLD (-4.35%), CWG (-4.27%), and TRANSCORP (-1.37%).
Despite the momentum, the market breadth closed negative, recording 23 gainers and 19 losers. Sectoral performances were predominantly bullish, with the Banking (+0.44%), Oil and Gas (+0.43%), Insurance (+0.23%), and Industrial Goods (+0.02%) indices closing higher.
Their uptrend was bolstered by positive sentiments in STANBIC (+6.74%), OANDO (+9.90%), AIICO (+2.78%), and CUTIX (+9.85%). In contrast, the Consumer Goods index (-0.08%) witnessed bearish sentiment due to selloffs in INTBREW (-2.17%). #Investors Record N65bn Gain as Nigerian Bourse Rally
