NGX Hits N36.99T as Equities Investor Gain N158bn
Equities investors in the Nigerian Exchange (NGX) recorded more than N158 billion daily gain on the first rally in the new week after the negative price movement dragged market capitalisation lower on Monday.
Yesterday, the local bourse lost N38 billion to selling rallies as inflation fear dragged investors sentiments downward, reducing year-to-date return, albeit, far ahead of an annual inflation rate.
Trading results from the Nigerian Exchange (NGX) showed that due to positive activities, the market performance indicators grew by +0.43%. In its market update, Atlass Portfolios Limited said the positive performance was due to increased buying interest across some major market sectors, led by the Banking sector, which grew by +2.75%.
Data from the local bourse indicated that year-to-date return has now advanced to 31.37% versus an inflation rate of 26.72% as of September 2023. Citing data from the domestic bourse, stockbrokers said the market index or the Nigerian Exchange All-Share Index increased by 288.19 basis points, representing a rise of +0.43% to close at 67,326.12.
Today, stock market activities improved, according to stockbrokers’ reports on transactions recorded in the domestic bourse. Total volume and total Value traded for the day increased by +74.93% and +45.57% respectively.
At the end of the trading sessions, approximately 377.97 million units valued at ₦5,169 million were transacted in 6,729 deals, stockbrokers said in their separate reports reviewed by MarketForces Africa.
ETRANSACT was the most traded stock in terms of volume, accounting for 11.68% of the total volume of trades. The company was followed by UBA (11.21%), ACCESSCORP (8.83%), FIDELITYBK (8.27%), and STERLINGNG (6.54%) to complete the top 5 on the volume chart.
UBA was the most traded stock in value terms, with 15.42% of the total value of trades on the exchange. JBERGER topped the advancers’ chart for today with a price appreciation of 10.00 per cent.
The construction company was trailed by CWG which gained 9.83%, CHAMPION share price rose by 9.76%, OANDO appreciated by 9.58%, THOMASWY gained 9.29% and twenty-one also rallied.
Despite the uptrend, twenty-two stocks depreciated. MULTIVERSE was the top loser, with a price depreciation of -9.49%. UNITYBNK (-9.00%), ELLAHLAKES (-8.05%), NB (-7.38%), CORNERST (-3.33%), and HONYFLOUR (-1.59%) also dipped in price.
Based on the recorded transactions, the market breadth closed positive, recording 26 gainers and 22 losers. Also, the market sector performance closed positive. It was noted that four of the five major market sectors ended in green led by the Banking sector, which grew by (+2.75%), followed by the Insurance sector by (+0.20).
The Industrial sector grew by +0.05, and the Oil & Gas sector advanced by +0.03% while the Consumer goods sector closed flat. Overall, equities market capitalisation inched higher by ₦158.34 billion, representing a growth of +0.43%, to close at ₦36.99 trillion from ₦36.83 trillion yesterday.
NGX Hits N36.99T as Equities Investor Gain N158bn Naira Devaluation Deepens Economic Crisis in Nigeria
