NGX Expands as Market Registers N810 bln Gain in 5-Day
This week, equity investors see their combined wealth increased by about N810 billion as the Nigerian Exchange (NGX) All-Share index (NGX-ASI) nears 46,000 points following five (5) trading sessions rallies.
Demand has been heavy on bellwether like Dangote Cement, Airtel Africa and some banking stocks ahead of earnings season, dividend announcement for the financial year 2021 operating performance.
Consequently, the Nigerian Exchange All-share index increased 3.38% week on week to 45,957.35 points as the bulls dominated all trading sessions save Monday.
Data from the Nigerian Exchange shows that year to date, the stock market return has been strengthened to 7.6% from 3.7%, while market capitalisation increased by ₦809.6 billion this week to ₦24.8 trillion.
Trading activity improved as average volume and value traded rose 16.2% and 45.1% week on week to 371.5 million units and ₦9.5 billion respectively, according to Afrinvest note.
According to Afrinvest, the top traded stocks by volume were DANGCEM (128.1m units), TRANSCORP (123.1m units), and FBNH (116.1m units) while DANGCEM (₦35.5bn), FBNH (₦1.4bn), and ZENITH (₦1.1bn) led trades by value.
Following the conclusion of the second tranche share buyback of 107 million which ended on Friday, Dangote Cement share price inched 5.52% higher to close at N284.90.
Given the bullish sentiment, most sector gauges tracked closed in green. The Oil & Gas, Banking, Consumer Goods index and the Industrial segment inched higher by 5.21%, 1.66%, 1.03% and 4.37% respectively to close at 379.17 points, 419.14 points, 564.47 points and 2,178.09 points respectively.
On the flip side, the NGX Insurance index lost 0.24% to close at 192.71 points. Meanwhile, market activity was positive as the volume and value of stocks traded rocketed by 16.10% and 45.13%, to 1.86 billion units and N47.48 billion respectively.
However, deals plunged by 7.82% to 20,840 times. In the new week, stocks traders are expecting the equities market index to move higher amid positive equity investors’ sentiment. # NGX Expands as Market Registers N810 bln Gain in 5-Day
Read: FMDQ Registers DLM Capital N20 Billion Commercial Paper
