NGX Gains N323 Billion on Buying Interest in DANGCEM, WAPCO
The Nigerian Exchange (NGX) expands N323 billion on Thursday as the market records buying interest in Dangote cement, WAPCO among others as the local bourse close for the week.
The market gains after yields slowdown in the fixed income market as investors in the space real return on investment stayed negative as a result of a steep inflation rate.
While headline inflation rate has continued a downward trend, yield in the fixed income has been largely unimpressive, leading to movement of funds into the equity space
Today, Bull’ sustained dominance on the Nigerian Exchange investors’ wealth expands by ₦323 billion, following the price appreciation in the high and medium price stocks like DANGCEM, NB, WAPCO, GTCO, amongst others.
As a result, the All-Share Index rose by 628.88 basis points, representing a 1.59 per cent increase to close at 40,221.17. While the Market Capitalization gained ₦327.65 bn, representing a surge of 1.59 per cent to close at ₦20.96 trillion.
Similarly, the market activities traded bullishly, as the total volume and value rose significantly by 120.65%, and 85.25 per cent, respectively. A total of 1.05 billion units of shares valued at ₦7.42 billion were traded in 3,752 deals.
FBNH topped the traded stocks in terms of volume, accounting for 19.01 per cent of the total volume of trades, followed by TRANSCORP (8.29%), GTCO (6.87%), WAPIC (6.46%), and MBENEFIT (5.39%) to complete the top five on the volume chart.
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Also, DANGCEM appeared to be the most traded stock in value terms, with 24.79 per cent of the total value of trades on the exchange. UPL topped the gainers’ chart with price appreciation of 9.82 per cent, followed by DANGCEM (7.28%), PRESCO (4.22%), OKOMUOIL (2.55%), VITAFOAM (2.40%), NB (1.54%), WAPCO (0.66%), GTCO (0.54%), and 12 others.
Conversely, CHAMS led the decliners’ chart as its share price dipped by 8.70 per cent to close at ₦0.21, as JAPAULGOLD (-2.22%), UBN (-2.00%), UBA (-0.66%), NESTLE (-0.60%), ZENITH BANK (-0.21%), and MTNN (-0.06%) amongst others also declined in price. On this note, the market breadth closed positively, recording 20 gainers and 14 losers.
NGX Gains N323 Billion on Buying Interest in DANGCEM, WAPCO
