NGX Gains N8bn as Lafarge Africa, Haldane McCall Rally
Nigerian Exchange rose by more than N8 billion as equities investors hunted after Lafarge Africa with Ticker: WAPCO, and Haldane McCall Plc with Ticker: HMCALL the Nigerian Exchange (NGX) index rebounded.
The local bourse opened the week on negative note, losing N123 billion due to selloffs in some banking stocks. Today, key performance indicators improved slightly by 0.01% following benchmark interest rate hike to 27.50% by the Central Bank.
Data from the local bourse revealed that Al-share index advanced by 13.61 basis points to close at 97,639.88 due to buying momentum.
Stockbrokers saw investors hunting for financial and industrial sectors more than other indexes. However, market activities went down, as the total volume and total value traded dropped by 17.75% and 24.52% respectively.
In its market update, Atlass Portfolios Investors told investors that approximately 552.11 million units valued at N8,031.31 million were transacted across 9,305 deals. HMCALL was the most traded stock in terms of volume, accounting for 32.11% of the total volume of traded on the Exchange.
The new listed stock was followed by TANTALIZER (6.71%), UBA (5.37%), PRESTIGE (5.18%), and FBNH (3.90%) to complete the top 5 on the volume chart. HMCALL also emerged as the most traded stock in value terms, accounting for 13.61% of the total value of traded on the exchange.
Again, HMCALL topped the advancers’ chart with a price appreciation of 9.98 percent. Other gainers include SUNUASSUR (+9.80%), JAPAULGOLD (+9.72%), PRESTIGE (+9.64%), NEIMETH (+9.55%), WAPCO (+9.15%) and eighteen others.
Stockbrokers said twenty-four stocks depreciated, citing trading data from the local bourse. MULTIVERSE was the top loser, with a price depreciation of -9.92%. Other decliners include TANTALIZER (-9.30%), GUINNESS (-4.62%), ELLAHLAKES (-4.13%), OANDO (-3.46%), and STERLINGNG (-2.07%).
Based on the trading direction on Tuesday, the market breadth closed par, recording 24 gainers and 24 losers. Sectoral performances were largely bullish, with four major indices closing in green and one in red.
Leading the bulls was the Insurance (+0.91%) sector, driven by bullish sentiments in SUNUASSUR (+9.80%). The Industrial Goods (+0.76%), Oil and Gas (+0.36%) and Consumer Goods (+0.09%) sectors followed suit, buoyed by gains in WAPCO (+9.15%), JAPAULGOLD (+9.72%) and FLOURMILL (+2.14%) respectively.
The Banking index (-0.21%) was the sole loser, driven by selloffs in UBA (-1.55%) and ACCESSCORP (-1.74%). Overall, the equities market capitalisation of the Nigerian Exchange rose by N.25 billion to close at N59.18 trillion. #NGX Gains N8bn as Lafarge Africa, Haldane McCall Rally Naira Plummets to N1690/$ after CBN Priced Spot Rate High
