NGX Gains N103bn as Investors Buying Interest Improves
The Nigerian Exchange (NGX) gains more than N103 billion on Friday as equity investors buying interest improves. After selling rallies experienced on Thursday, bulls surfaced in trading activities on the local bourse, thus reversing the previous day’s negative sentiment.
With the heavy buying interest, the overall market index grew 198 points. As a result, the Nigerian Exchange (All-Share Index) rose by 197.75 basis points, representing an upturn of 0.47 per cent to close at 41,882.97.
Overall, the stock market capitalisation gained ₦103.18 billion, representing a growth of 0.47 per cent to close at ₦21.85 trillion. However, the market activities remained bearish as the total volume and value traded dipped by 6.03 per cent and 33.86 per cent, respectively.
A total of 444.94 million units valued at ₦3.42 billion were transacted in 3,594 deals, according to Nigerian Exchange data. Today, CILEASING topped as the traded stock in terms of volume, accounting for 32.91 per cent of the total volume of trades.
The stock was followed closely by ACCESS (12.55%), FBNH (7.94%), FCMB (7.93%), and UNITYBNK (6.73%) to complete the top five on the volume chart.
Also, CILEASING emerged as the most traded stock in value terms, with 19.67 per cent of the total value of trades on the exchange. MEYER appeared as the most profitable stock to lead the advancers’ chart with a price appreciation of 10.00 per cent.
MEYER was trailed by GUINNESS (6.85%), FIDELITYBK (4.53%), ETI (4.02%), GTCO (3.92%), ZENITHBANK (3.87%), CHIPLC (3.77%), NGXGROUP (3.67%), SEPLAT (3.17%), FBNH (2.59%), UBA (1.90%), WAPCO (1.84%) and twelve (12) others.
Meanwhile, thirteen (13) stocks depreciated. UNITY BANK with price depreciation of 6.52 per cent to close at ₦0.43 topped the loser’s chart, as CUSTODIAN (-5.33%), CILEASING (-1.50%), STANBIC (-1.35%), STERLNBANK (-1.34%), and ACCESS (-0.54%) also dipped in price.
Despite this, the market breadth closed positive, recording 24 gainers and 13 losers.
Also, NGX sector performance was relatively positive, as all the five sectors appreciated, led by banking (2.20%), trailed by Oil & Gas (1.30%), Consumer Goods (0.24%), Insurance (0.16%) and Industrial Goods (0.11%), respectively. # NGX Gains N103bn as Investors Buying Interest Improves
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