NGX Gains N112 Billion as Airtel, UBA Lead Fresh Rally
Nigerian Exchange (NGX) gains N112 billion on Tuesday as Airtel, UBA and other big names in the industries lead the fresh rally after four days of downturns.
Halting the bearish trend, the Nigerian Exchange reverses previous losses with heavy gains reported as investors buying sentiments improve today.
The upturn was due to the price appreciation in AIRTELAFRI, UBA, VITAFOAM, amongst others, said Atlass Portfolios Limited in a market report.
Consequently, the Nigerian Exchange All-Share Index increased by 213.86 basis points, representing a growth of 0.49 percent to close at 43,444.20 points today.
Similarly, stock market capitalisation advanced by ₦111. 61 billion, representing an increase of 0.49 percent to close at ₦22.67 trillion while year to date return rises to 7.9%.
Data shows that market activities traded positively, as the total volume and value traded climbed by 44.44 percent and 171.60 percent respectively, as against the previous session.
A total of 423.83 million units valued at ₦11.65 billion were transacted in 4,181 Deals. FBNH topped the traded stocks in terms of volume, accounting for 52.77 percent of the total volume of trades.
This was followed by STERLNBANK (7.67%), TRANSCORP (5.82%), GTCO (4.92%), and JAIZBANK (3.76%) to complete the top five on the volume chart.
Today, NESTLE emerged as the most traded stock in value terms, with 48.44 percent of the total value of trades on the exchange.
But CUTIX maintained the top spot on the advancers’ list as its share prices rose by 8.33 percent, trailed by AIRTELAFRI (4.39%), WEMABANK (2.41%), UBA (1.83%), FBNH (1.63%), INTBREW (0.90%), STERLNBANK (0.67%), VITAFOAM (0.53%) and ten (10) others.
Similarly, 18 stocks declined in price led by TOTAL with price depreciation of 9.97 percent to close at ₦216.8 per share.
TRANSCORP (-3.96%), GTCO (-2.18%), UCAP (-2.18%), NGXGROUP (-0.83%), NESTLE (-0.71%), ACCESS (-0.53%) and LIVESTOCK (-0.46%) also dipped in price.
Despite positive investing energy, the market breadth closed at par, recording 18 gainers and 18 losers. Nevertheless, the sector performance was relatively positive, as three of the five major sectors closed positively, led by Insurance (0.39%), Banking (0.11%) and Industrial Goods (0.01%).
The Oil & Gas (2.49%) and Consumer Goods (0.38%) sectors dipped as against the previous session.# NGX Gains N112 Billion as Airtel, UBA Lead Fresh Rally. Read Also: Stock Market Returns Positive as Airtel Seeks to Buy Back Shares
