Market Return Improves as NGX Gains Traction
The equities segment of the Nigerian Exchange (NGX) popped higher again on Monday, pushing year-to-date return upward to about 5% amidst rising headline inflation.
The local bourse recorded more gainers (26) than losers (6) at the end of the trading session, according to a market report from the Nigerian Exchange. Key performance indicators improved as the stock market sustained rally that started last week.
Specifically, the Nigerian Exchange All-Share Index increased by 0.4% to close at 44,662.96 points. The positive performance was supported by bargain-hunting in BUAFOODS (+3.5%) and NB (+9.9%).
Stockbrokers said the month-to-date and year-to-date returns settled at +1.9% and +4.6%, respectively. The total volume of trades increased by 8.8% to 159.56 million units, valued at N1.95 million, and exchanged in 3,607 deals.
TRANSCORP was the most traded stock by volume at 35.24 million units, while SEPLAT was the most traded stock by value at N478.00 million.
NB (+9.9%) and NEM (+9.9%) topped the gainers’ list, while AIICO (-5.4%) and MANSARD (-5.1%) recorded the highest losses of the day.
Sectorial performance was upbeat as four out of the five indices tracked closed in the green zone; the NGX Banking, NGX Insurance, NGX Consumer Goods, and the NGX Oil/Gas indices rose by 1.25%, 0.18%, 2.44%, and 0.15%, respectively.
On the flip side, the NGX Industrial Index fell by 0.03%.
Meanwhile, activity in the market improved further as total deals, volume, and value increased by 16.58%, 3.08%, and 53.31%, respectively, to 3,530 trades, 151.19 million units, and N1.89 billion.
In terms of volume, TRANSCORP was the most active stock, with 35.24 million shares worth N39.40 million changing hands in 68 deals
Sectoral performance was mixed, as the Consumer Goods (+1.8%), Banking (+1.3%), and Insurance (-2.6%) indices advanced, while the Industrial Goods index closed flat. The Oil & Gas (-0.3%) index was the sole loser of the day. # Market Return Improves as NGX Gains Traction