NGX ASI Climbs as UACN, Ikeja, Transcorp Hotels Rally
The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 1.08% on Friday close as investors increased bets on UACN and hospitality stocks, including Ikeja and Transcorp Hotels.
The market rallied four successive sessions and was supported by renewed buying interest in medium- and large-cap stocks across major sectors, most significantly the industrial goods sector and the banking sector.
The NGX All-Share Index added 1,563.92 basis points to close at 147,040.07. The stock market capitalization advanced by ₦996.84 billion to ₦93.72 trillion on Friday.
However, market activities were down as the total volume of all trades executed in the market and their total value declined by -81.29% and -22.70%, respectively.
In a note, Atlass Portfolio Limited told investors that approximately 361.59 million units valued at ₦14,835.27 million were transacted across 21,051 deals.
ZENITHBANK emerged as the most traded stock in volume terms, accounting for 16.89% of transaction volume in the market, followed by ACCESSCORP (13.09%), FIDELITYBK (8.35%), FCMB (7.92%), and TANTALIZER with 3.68%.
ZENITHBANK also topped value chart, accounting for 24.74% of the total value of all trades consummated in the local bourse.
UACN topped gainers chart, up by +10.00%, trailed by TRANSCOHOT (+9.71%), ROYALEX (+8.89%), IKEJAHOTEL (+8.74%), VERITASKAP (+8.07%), EUNISELL (+7.54%), and thirty others.
A total of sixteen stocks depreciated, according to trading details from the Nigerian bourse. With a price depreciation of -10.00%, UNIONDICON topped the worst performers’ chart, followed by ABCTRANS (-9.88%), MANSARD (-7.19%), FTNCOCOA (-4.62%), GUINEAINS (-3.36%), and MCNICHOLS (-2.26%).
Hence, the market breadth closed on a positive note, as there were 36 gainers and 16 losers. Sectoral performance closed positive. The industrial goods sector increased by +2.06%, followed by the banking sector, which gained +1.31%, and the consumer goods sector popped up by +0.83%.
The insurance sector and the oil & gas sector declined by (-0.61%) and (-0.08%), respectively. Ikeja Hotel Hits Highest Valuation in 52-Week, Gains 45%
