NGX Ends Positive on Corporate Earnings Releases
The Nigerian Exchange (NGX) ends the week on a positive note following a week-packed corporate earnings releases that have been driving the market upward. The stock market stayed on a positive trajectory for 4 out of 5 trading sessions this week as market capitalisation edged higher to N20.22 trillion.
Market reports show that earnings results from listed companies have been largely mixed with some recording increased profitability in the real sense of its.
However, the pattern shows that some companies performances were driven by lower than usual performance in the equivalent period last year.
Largely, it appears companies in the fast-moving consumers’ segment are making a quick recovery, though performance, in general, has been unimpressive, especially in the banking sector.
The Nigerian Exchange All-share index (NGX-ASI) gained 0.02 per cent following g renewed bargain hunting with a benchmark index printed at 38,810.75 points.
The market sees price appreciation in tickers such as GUINNESS, TRANCOHOT, OANDO, ARDOVA, TRANSCORP, JAIZBANK, STERLNBANK, ETI, CUTIX and REGALINS.
Meanwhile, market breadth remains negative with 10 gainers versus 12 losers while trading activities closed on a higher note.
NGX data shows that both the volume and value of stocks traded on the exchange appreciating by 20.03 and 18.07 per cent respectively. A total of 167.78 million units of shares valued at N1.66 billion, were traded in 3,267 deals.
FBNH led the volume chart, accounting for 16.25 per cent of the total volume of trades, followed by GTCO (8.57%) TRANSCORP (7.76%) FCMB (7.31%), and WEMABANK (7.20%) to complete the top five on the volume chart.
GTCO led the value chart accounting for 24.29 per cent of the total value of trade on the exchange.
TRANSCOHOT, REGALINS, OANDO topped the gainers’ chart, with their share prices advancing by 9.80 per cent, 6.67 per cent, and 4.13 per cent, respectively. JULI led the losers’ table with its share price depreciating by 9.76 per cent to close at N1.11 after opening the day at N1.23.
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NGX Ends Positive on Corporate Earnings Releases
