NGX Ends Higher as Investors Gain N40 bln
Equity investors at the Nigerian Exchange, NGX, gained about N40 billion on Friday as the local bourse ends the week on a positive note following an improvement in buying sentiment.
The Nigerian Exchange made a third successive rally with an upsurge of 0.16 per cent in market indicators amidst improved investors’ appetite in financial stocks.
Consequent to buying interest, the Nigerian Exchange All-Share Index increased by 73.50 basis points representing 0.16 per cent appreciation, to close at 47,437.48, according to Atlass Portfolios stockbrokers note.
This outing pushed both the month-to-date and year-to-date performance of the All-Share Index to stand at 0.09% and 11.05% respectively. Stock market data shows that the equity capitalisation inched up by ₦39.61 billion to close at ₦25.57 trillion after the previous 5-day losing streaks.
Data from the Nigerian bourse shows that the market activities were bullish, as the total volume and total value traded rose by 341.02 per cent and 56.97 per cent.
About 1.15 billion units valued at ₦7.03 billion were transacted in 3,928 deals, according to Atlass Portfolios, citing the stock market data. FCMB led as the most traded stock in terms of volume, accounting for 80.87 per cent of the total volume of trades.
The tier-2 bank stock was followed closely by ZENITH BANK (2.60%), ACCESS (1.95%), FIDELITYBK (1.67%) and UCAP (1.46%) to complete the top five on the volume chart.
Also, FCMB emerged as the most traded stock in value terms, with 49.68 per cent of the total value of trades on the exchange.
NIGERINS topped the advancers’ chart with price appreciation of 10.00 percent, trailed by UACN (5.97%), GTCO (3.85%), UCAP (2.87%), FLOURMILL (2.77%), ARDOVA (2.58%), CAP (2.56%), ZENITHBANK (1.12%), UBA (0.59%), FBNH (0.43%) and twelve (12) others.
Trading data shows that twenty-two (22) stocks depreciated, led by ROYALEX with a price depreciation of 9.70 per cent to close at ₦1.21. UNILEVER (-5.71%), OANDO (-4.34%), FIDSON (-4.19%), AFRIPRUD (-2.99%), FIDELITYBK (-2.40%), NGXGROUP (-2.02%), UBN (-0.80%) and NB (-0.54%) also dipped in price.
The market breadth closed at par, recording 22 gainers and 22 losers. Also, sectoral performance was mixed, as two of the five major sectors closed positively compared to the previous session, such as Banking (0.34%) and Insurance (0.28%).
The Oil & Gas (-0.35%) and Consumer Goods (-0.002%) declined, leaving the Industrial Goods sector unchanged. #NGX Ends Higher as Investors Gain N40 bln
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