MTN, UBA Drive NGX Momentum, Investors Gain N1.66trn
Boosted by MTN Nigeria, UBA and other risers, the Nigerian Exchange (NGX) maintained an uptrend on Tuesday as trading data showed that equity investors’ portfolio value surged by N1.66 trillion.
Trading details obtained from the local bourse revealed that the NGX All-Share Index advanced BY 1.59% to 165,837.32 points, supported by interest in telecom, banking and other sectoral indices.
Stockbrokers reported that market capitalisation grew by ₦1.66 trillion to ₦106.18 trillion. Positive sentiments in MTNN (+10.00%), NB (+3.67%), and UBA (+4.43%) drove the market’s strong performance.
Market breadth also reflected the bullish sentiment, printing at a staggering 4.50x, as there were more gainers (54) than losers (12) in the day’s session.
Overall, CAVERTON (+10.00%), DEAPCAP (+10.00%), MTNN (+10.00%), ETRANZACT (+10.00%), and PZ (+10.00%) topped the gainers’ chart, while UNIVINSURE (-6.25%), PRESTIGE (-5.81%), and REGALINS (-5.17%) led the laggards.
Trading metrics showed mixed results as share volume declined 1.58% to 1.13 billion units and deal count decreased 17.09% to 49,216 transactions, while transaction value jumped 74.43% to ₦33.55 billion.
Precisely, a total of 1.1 billion units worth N33.5 billion traded in the market today. SOVRENINS led the volume chart with 343.5 million units (30.4% of total volume), while MTNN led the value chart with trades worth N10.8 billion (32.3% of total value).
Sectoral performance ended on a broadly bullish note, with five indices posting gains in today’s session. The Banking (+1.33%) index led the charge, followed by the Consumer Goods (+0.74%) index, driven by buying interests in UBA (+4.43%) and NB (+3.67%), respectively.
The Oil & Gas (+0.39%), Industrial Goods (+0.10%), and Commodity (0.01%) indices followed suit. The positive performance was driven by buying interest in OANDO (+5.50%), WAPCO (+0.63%), and MULTIVERSE (+9.83%), respectively. On the other hand, the insurance (-0.06%) index was the sole index to close negative, driven by selloffs in CORNERST (-1.47%). Naira Climbs to N1,419 Per Dollar as Foreign Reserves Surge
