NGX Ends Positive as Investors Gain N51 Billion
The Nigerian Exchange (NGX) ends the week positive with N51 billion gain after the profit-taking trading session on Thursday. For every rally, there has been a follow-up selloff as investors continue to go short, in what some analysts see as some sort of offensive selling.
Ahead of the expectation of the Santa Claus rally next week, NGX indicators inched up by 0.20 per cent, supported by price appreciation in DANGCEM, FBNH and 19 others.
Consequently, the Nigerian Exchange All-share index increased by 83.08 basis points, representing a growth of 0.20 per cent to close at 42,353.31 points, according to Atlass Portfolios Limited.
With the rally, market capitalisation inched higher today by ₦50.73 billion to close at ₦22.11 trillion, following the listing of 91.00 million of ₦1.00 each ordinary shares of Ronchess Global Resources Plc at ₦81.00 per share.
Meanwhile, the market activities were mixed as the total volume traded rose by 36.99 per cent, while the total value traded plunged by 1.08 per cent.
A total sum of 341.69 million units valued at ₦3.54 billion was transacted in 3,059 deals, analysts at Atlass Portfolios Limited said in a market report. Precisely, INTBREW outdid the traded stock in terms of volume, accounting for 24.49 per cent of the total volume of trades.
The brewer’s stock was followed closely by UACN (18.39%), FBNH (9.49%), ACCESS (8.55%), and ZENITH BANK (6.42%) to complete the top five on the volume chart.
However, UACN emerged as the most traded stock in value terms, with 17.00 per cent of the total value of trades on the exchange. PHARMDEKO topped the advancers’ chart with a price appreciation of 10.00 per cent.
The company was trailed by PZ (5.93%), LIVESTOCK (5.56%), NASCON (2.33%), DANGSUGAR (2.10%), UBA (1.91%), DANGCEM (1.19%), UNILEVER (0.75%), ACCESS (0.56%), UCAP (0.51%), FBNH (0.42%) and ten (10) others.
A total of nineteen (19) stocks depreciated, led by CHAMPION with a price depreciation of 10.00 per cent to close at ₦2.34.
Other with price drops include HONYFLOUR (-7.61%), UBN (-5.15%), ETI (-4.74%), NGX GROUP (-1.89%), UACN (-1.04%) and GTCO (-0.78%).
Overall, the market breadth closed negative, recording 21 gainers and 19 losers. The NGX sector performance was relatively positive, as three of the five sectors appreciated.
This was led by Industrial Goods (0.62%), trailed by Insurance (0.60%) and Consumer Goods (0.28%), while Banking and Oil & Gas sectors tanked by 0.49% and 0.11%, respectively. # NGX Ends Positive as Investors Gain N51 Billion
