NGX Gains N248bn as Flour Mills, Ecobank, FBNH Rally
Equities investors on the Nigerian Exchange (NGX) platform saw about N248 billion gain due to fresh demand for Ecobank, FBN Holdings and Flour Mills of Nigeria among other listed companies shares in the local bourse.
The Nigerian domestic market closed the week on a positive note, as key performance indicators increased by 0.44%, according to stockbrokers’ notes.
The Nigerian Exchange All-Share Index climbed by 431.45 basis points to close at 97,456.62. Strong buying interest, particularly in the Financial and Consumer goods sectors, contributed significantly to the market’s continued upward momentum, sustaining the gains from the previous day, Atlass Portfolios Limited said in a note.
However, market activities were mixed, according to details of transactions held on Friday. Total volume traded for the day increased by 5.72%, while the total value traded was down by 18.90%.
Stockbrokers said in their respective updates that approximately 412.90 million units valued at ₦6,467.37 million were transacted across 8,803 deals.
JAPAULGOLD was the most traded stock in terms of volume, accounting for 25.63% of the total volume of traded in the market on Friday.
Other volume drivers include FBNH (10.48%), ZENITHBANK (6.94%), UBA (3.77%), and ETI (3.54%) to complete the top 5 on the volume chart.
FBNH emerged as the most traded stock in value terms, with 18.52% of the total value of trades on the exchange, according to transactions details reviewed.
FLOURMILL topped the advancers’ chart with a price appreciation of 10.00 percent. Other gainers include CAVERTON with (+9.96%) growth, ETI (+9.95%), RTBRISCOE (+9.94%), UPDC (+9.88%), FBNH (+9.85%) and twenty others.
In the equities market, twenty stocks depreciated. DAARCOMM was the top loser, with a price depreciation of -9.72%. Other decliners include DEAPCAP (-8.82%), CUSTODIAN (-8.45%), NSLTECH (-7.14%), SUNUASSUR (-6.77%), and ETERNA (-3.58%).
Due to trading pattern, the market breadth closed positive, recording 33 gainers and 20 losers.
In addition, the market sector performance was positive, as four of the five major market sectors closed positive. The Banking sector grew by +2.72% followed by the Insurance sector, up by +1.41% and the Consumer goods sector which gained +1.25%. The Industrial sector surged by +0.19% while The Oil & Gas sector declined by 0.25%
Overall, the equities market capitalisation of the Nigerian Exchange grew by ₦247.92 billion to ₦56 trillion. # NGX Gains N248bn as Flour Mills, Ecobank, FBNH Rally
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