NGX Hits N49.3Trn as Market Index Crosses 90,000
The equities market capitalisation of the Nigerian Exchange (NGX) rose to about N49.3 trillion as the all-share index crossed the 90,000 benchmark, its new all-time high ever. Riding the sustained bullish run in Lagos bourse, key market performance indicators advanced by +2.38% following extended rerating of stocks across segments.
Stockbrokers at Atlass Portfolios Limited said the local market continues to surpass its previous records, setting a new milestone today due to increased buying interest in blue-chip stocks. Major market movers in the local bourse that posted gains include DANGCEM, GEREGU, BUACEMENT, and 44 others.
Hence, the market index or All-Share Index increased by 2,092.17 basis points to close at 90,063.27, according to data from the Nigerian Exchange. Data from Lagos showed that stock market activities improved further as the total volume and total value traded increased by +21.69%, and +3.89% respectively.
According to Atlass Portfolios Limited, approximately 1,298.22 million units valued at ₦16,381.02 million were transacted in 17,471 deals.
STERLINGNG was the most traded stock in terms of volume, accounting for 8.19% of the total volume of trades. This was followed by JAPAULGOLD (7.80%), TRANSCORP (6.98%), JAIZBANK (6.41%), and UNITYBNK (5.66%) to complete the top 5 on the volume chart.
NB was the most traded stock in value terms, with 12.33% of the total value of trades on the exchange. AIICO, GUINNESS, WEMABANK, HONYFLOUR, and SUNUASSUR topped the advancers’ chart with a price appreciation of 10.00 per cent each.
BUACEMENT with (+9.99%) growth, MAYBAKER (+9.98%), TRANSCORP (+9.97%), INTBREW (+9.95%), NNFM (+9.94%), and thirty-seven others.
Thirty-four stocks depreciated during the trading session, stockbrokers said. RTBRISCOE was the top loser, with a price depreciation of -10.00%. DANGSUGAR (-9.95%), NGXGROUP (-9.84%), STERLINGNG (-9.09%), FBNH (5.79%), and UBA (-4.27%) also dipped in price.
Based on the trading pattern, the market breadth closed largely positive, recording 47 gainers and 34 losers. In addition, the market sector performance was positive.
On Wednesday, four of the five major market sectors were up, led by the Industrial sector which grew by +8.76%, followed by3.63% gain in the Insurance sector. Nigeria Eurobond Slumps after CBN Resumes OMO Auction
The Consumer goods sector grew by +1.92% and Oil & Gas sector advanced by +0.45%. On the other hand, the Banking sector was down by 3.26%. Overall, the equities market capitalisation of the Nigerian Exchange gained ₦1,144.86 billion to close at ₦49.28 trillion.
