Investors See N259bn Gain in Nigerian Equities Market
Equities investors saw about N259 billion gain in the equities market as oil stocks attracted attention. The local bourse extended positive momentum to seven days while ley performance indicators advanced by 0.43%.
The All-Share Index expanded by 426.52 basis points in today’s trading session to close at 100,477.46 due to bargain hunting. Today’s bullish sentiment was driven by investors’ increased buying interest in some large and medium-cap stocks.
Special attention was received by oil stocks like MRS, ETERNA, ARADEL, and others. Over the last seven days in the local bourse, investors have gained ₦1.44 trillion.
The surge in market cap cut across key market sectors, according to stockbrokers. However, market activities inched lower despite the bargain hunting. Data from the local bourse revealed that total volume and total value trades dropped by 18.49% and 59.14%, respectively.
In its market update, Atlass Portfolios Limited told investors that approximately 389.70 million units valued at N9,199.21 million were transacted across 9,573 deals.
In terms of volume, STERLINGNG led the activity chart, accounting for 11.18% of the total volume of traded in the market. Other volume drivers include UBA (6.73%), FIDELITYBK (6.58%), UNIVINSURE (4.74%), and AIICO (4.17%), rounding out the top five.
ARADEL emerged as the most traded stock in value terms, accounting for 16.77% of the total value of trades on the exchange. MRS topped the performers list with a price appreciation of 9.99 percent.
Other gainers include LEARNAFRCA with (+9.97%) growth, INTENEGINS (+9.77%), WAPIC (+9.74%), LIVESTOCK (+9.73%), ROYALEX (+9.72%), and thirty-six others.
Today, eighteen stocks depreciated, according to data from the Nigerian Exchange. AFRIPRUD was the top loser, with a price depreciation of -10.00%. Other decliners include GUINEAINS (-8.33%), DEAPCAP (-5.26%), CONHALLPLC (-4.17%), FBNH (-2.04%), and JAIZBANK (-1.16%).
Given the trading direction, the market breadth closed positive, recording 42 gainers and 18 losers.
In addition, the market sector performance was positive, as four of the five major market sectors were up, led by the insurance sector, which grew by 3.16%, followed by 68 basis points gained by the banking sector.
The oil & gas sector rose by 0.33% while consumer goods advanced by 0.08%. The industrial sector closed unchanged. Overall, the equities market capitalisation of the Nigerian Exchange increased by N258.56 billion to close at N60.91 trillion. #Investors See N259bn Gain in Nigerian Equities Market Afreximbank Closes $282m India-Focused Club Deal
