NGX Indicators Jump as Seplat, Fidelity Bank Drive N623bn Gain
The Nigerian Exchange (NGX) key indicators jumped by 38 basis points on Thursday as Seplat, Fidelity Bank, Nacho, and a host of others drove about N623 billion in gains in the local bourse.
The stock market closed trading for today on a positive note, as key market performance indicators (the NGX-ASI and Market Capitalisation) edged higher by 0.38%.
The market’s upward performance reflected sustained positive trading sentiment among market players, as evidenced by sustained buying interest in mid-cap and blue-chip stocks.
The Oil & Gas sector appreciated by 3.95%, thereby contributing the most to the market’s performance. Notable gainers included SEPLAT, NAHCO, FIDELITYBK, FIDSON, among others.
The market index, or All-Share Index, inched higher by 958.99 basis points, closing at 252,150.01. Also, market capitalisation inched higher by ₦622.51 billion to close at ₦163.68 trillion.
The total volume of all trades executed in the market declined by 38.49%, while the total value of all shares traded increased by 9.49%.
Stockbrokers reported that approximately 978.29 million units, valued at ₦50,164.80 million, were transacted in 48,558 deals.
FIDELITYBK topped the volume chart, accounting for 34.42% of all shares traded, followed by VFDGROUP (12.53%), TRANSCORP (6.77%), ACCESSCORP (4.49%), and CHAMS (4.37%).
SEPLAT topped the value chart, accounting for 28.34% of the total transaction value of all shares traded on the stock market, making it the highest-value stock traded on the exchange.
CMFC led the gainers chart, up 10.00%, followed by RTBRISCOE (+9.55%), CAVERTON (+8.75%), NAHCO (+8.57%), LINKASSURE (+7.36%), SEPLAT (+7.33%), and 21 others.
A total of twenty-four stocks depreciated. With a price depreciation of 7.23%, NEIMETH topped the worst-performers chart, followed by ELLAHLAKES (-5.33%), MBENEFIT (-4.65%), LASACO (-4.44%), WEMABANK (-3.93%), and AIICO (-3.05%).
Hence, the market breadth closed on a positive note, with 27 gainers and 24 losers. Sectoral performance was positive today, with three of the five major market sectors rising.
The Oil & Gas sector led by +3.95%, followed by the Consumer goods sector (+0.04%), and the Industrial goods sector (+0.0003%). The Banking and Insurance sectors declined by 0.29% and 0.08%, respectively. CBN Targets N500 bln from Treasury Bills Auction Midweek
