NGX Hits N50.3Trn as Equities Investors Gain N1Trn

The Nigerian Exchange (NGX) crossed over to N50 trillion market size as equities investors in the local bourse recorded more than N1 trillion as daily gain.  Consequent to a strong bullish run, stock market performance indicators advanced by +2.04% ahead of fourth quarter earnings releases by listed companies.

Increased buying interest in bellwether stocks, such as DANGCEM, BUACEMENT, and others, can be attributed to today’s market gain, as the market breadth closed negative. Data from the Exchange showed that the market index or All-Share Index increased by 1,833.70 basis points, representing a rise of +2.04% to close at 91,896.97.

However, market activities were mixed as the total volume traded was down by -12.16%, while the total value traded for the day increased by +17.78%. In its market update, Atlass Portfolios Limited said approximately 1,140.38 million units valued at ₦19,293.27 million were transacted in 17,804 deals.

TRANSCORP was the most traded stock in terms of volume, accounting for 13.74% of the total volume of trades. The conglomerate was followed by UNIVINSURE (10.05%), VERITASKAP (6.09%), JAIZBANK (5.78%), and GTCO (5.57%) to complete the top 5 on the volume chart.

Also, TRANSCORP was the most traded stock in value terms, with 15.35% of the total value of trades on the exchange.  CONOIL, JOHNHOLT, NEM, ETERNA, and UNITYBNK topped the advancers’ chart for today with a price appreciation of 10.00 per cent each.

These companies were trailed by PZ with (+9.96%) growth, MAYBAKER (+9.96%), MCNICHOLS (+9.94%), ABBEYBDS (+9.93%), HONYFLOUR (+9.92%), and twenty-three others. The stock market showed that forty-one (41) stocks depreciated, where IKEJAHOTEL was the top loser, with a price depreciation of -9.79%.

On the loser chart are: ROYALEX (-9.78%), MBENEFIT (-9.57%), LINKASSURE (-9.40%), CADBURY (-5.96%), and FBNH (2.53%) also dipped in price. Based on the trading pattern, the market breadth closed negative, recording 33 gainers and 41 losers.

In addition, the market sector performance was positive, as three of the five major market sectors were up, led by the Industrial sector which grew by +7.83%, followed by a 2.69% surge in Oil &Gas index. Naira Somersaults as CBN Makes Zero FX Injection

The Consumer goods sector advanced by +0.87%. The Insurance and Banking sectors were down by -2.11% and -1.89% respectively. Overall, the equities market capitalisation of the Nigerian Exchange jumped by ₦1.005 trillion to close at ₦50.29 trillion.