NGX Index Hits Fresh High as NB, Dangote Sugar, MTN Rally
The Nigerian Exchange (NGX) All-Share Index hits a fresh high after monster rallies that bolstered equities market capitalisation by about N2 trillion in four trading sessions. The stock market ended on a positive note, extending the previous day’s rally, pushing key market performance indicators up by 0.27%.
Stockbrokers said today’s upward price movement was driven by sustained buying interest in medium- and large-scale stocks, including HONYFLOUR, DANGSUGAR, NB, MTNN, and others.
With the monster rally, equities investors’ wealth has grown by approximately ₦1.94 trillion over the last four consecutive trading sessions, brokers at Atlass Portfolios Limited told investors in a note.
The All-Share Index increased by 296.39 basis points today, to close at a new all-time high of 111,902.61 points, representing a 0.27% increase from the previous session.
Equities market activities improved as the total volume and total value of all trades conducted increased by 25.05% and 73.41% respectively. According to Atlass Portfolios Limited, approximately 512.17 million units valued at ₦17,115.86 million were transacted across 16,711 deals.
In terms of volume, JAPAULGOLD led the activity chart, accounting for 11.63% of the total volume of all trades consummated in the Nigerian bourse, followed by FIDELITYBK (9.52%), CUSTODIAN (7.40%), GTCO (5.83%), and FCMB (4.50%), rounding out the top five. MTNN emerged as the most traded stock in value terms, accounting for 28.47% of the total value of all trades on the exchange.
Ticker: LEARNAFRCA and UPL topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by NNFM (+9.98%), HONYFLOUR (+9.95%), OMATEK (+9.86%), ABCTRANS (+9.28%), REDSTAREX (+9.22%) and thirty-two others.
Twenty-seven stocks depreciated, according to trading details obtained from the equities market. ACADEMY was the top loser, with a price depreciation of -10.00%.
Other decliners include SKYAVN (-9.94%), MULTIVERSE (-9.55%), VITAFOAM (-6.46%), PRESCO (-5.26%), and FIRSTHOLDCO (-0.97%). Market breadth closed positive, recording 39 gainers and 27 losers.
In addition, the market sectoral performance was positive, as four out of the five major market sectors were up, led by the Consumer goods sector, which grew by 0.96%.
The Insurance sector inched higher by 0.46%, the Oil & Gas sector rose by 0.24%, and the Industrial sector by (0.05%). The Banking sector recorded a loss of 0.10%. Overall, the equities market capitalisation appreciated by ₦186.90 billion to settle at ₦70.56 trillion, also marking a 0.27% increase. #NGX Index Hits Fresh High as NB, Dangote Sugar, MTN Rally#
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