NGX Gains N139bn over Bargain Hunting in MTNN, ETI, FBNH
Treasurys hunting in MTN Nigeria share, Ecobank Transnational Inc. and FBN Holdings including other fifteen stocks lifted the equities market capitalisation of the Nigerian Exchange (NGX) higher by N139 billion on Monday.
The stock market opens positive after it lost N39 billion last week despite latter days rallies, which eventually failed to upturn selloffs in Dangote Cement. Consequently, the All-Share Index closed higher by 0.5% to 51,962.85 points.
Today’s gain resulted in moderation in the Month-to-Date loss -1.9%, while the year-to-date returns edged higher to +21.7%. READ: Nigerian Bourse Hits 2008 High on Heavy Bargain Hunting
Equities market capitalisation advanced by N138.68 billion, crossing the ₦28 trillion mark. Stockbrokers at Atlass Portfolios Limited said the market activities were bullish, as the total volume and value rose by 70.74 per cent and 41.82 per cent, respectively, showing a sign of investors’ return to the market.
Market data shows that approximately 266.51 million units valued at ₦2.60 billion were transacted in 5,050 deals. TRANSCORP emerged as the most traded stock in terms of volume, accounting for 15.76 per cent of the total volume of trades.
The company was followed closely by ACCESSCORP (14.51%), OANDO (13.74%), UBA (10.21%), and FBNH (6.62%) to complete the top five on the volume chart.
SEPLAT was the most traded stock in value terms, with 16.44 per cent of the total value of trades on the exchange. ETI topped the advancers’ list with a price appreciation of 9.79 per cent.
The banking stock was trailed closely by OKOMUOIL which jumped by 8.53%, OANDO share price advanced by 3.51%, FBNH rose 3.32%, MTNN spiked 2.13%, UCAP jumped by 1.57%, ZENITH BANK surged 0.23% and eleven (11) others stock appreciated.
On the contrary, stockbrokers’ note shows that sixteen (16) stocks also depreciated, topped by PZ with a price depreciation of 10.00 per cent, to close at ₦11.25. ETERNA’s share price declined by 9.33%, NB lost 3.42%, and UBN declined by 2.50%.
Also, FLOURMILL’s share price fell by 1.54%, ACCESSCORP pullback by 1.05%, UBA bumped 0.67% and GTCO sank0.24%) also dipped in price. As a result, the market breadth closed positive, recording 18 gainers and 16 losers.
Performance across sectors was broadly positive, as the Banking (+0.5%), Oil & Gas (+0.1%), and Consumer Goods (+0.1%) indices advanced, while the Industrial Goods index closed flat. The Insurance (-0.1%) index was the sole loser of the day. #NGX Gains N139bn over Bargain Hunting in MTNN, ETI, FBNH
