NGX Jumps as Equity Investors Position in Value Stock
The Nigerian Exchange, NGX, jumps on Tuesday as equity investors’ position in value stock, causing year to date return to expand further. Overall, the month-to-date return printed at +1.33 while the year-to-date return printed at +10.61%.
For three successive trading sessions, market performance continues an uptrend as stockbrokers see investors taking advantage of low prices in dividend-paying and fundamentally viable stocks.
Consequently, the Nigerian Exchange All Share Index inched higher by 12.99 basis points, representing 0.03 percent appreciation to close at 47,246.90 points.
With the bargain hunting on mid and large caps stock, the Nigerian stock market capitalisation edged higher by a total sum of ₦6.99 billion today to close at ₦25.46 trillion. Read: Treasury Bills Yield Jumps 11 Basis Points after CBN Auction
Similarly, the market activities were bullish as the total volume and value climbed by 0.09 percent and 22.14 percent, respectively, according to a market report by Atlass Portfolios limited.
Approximately 421.82 million units valued at ₦5.16 billion were transacted in 5,992 deals, data from the Nigerian Exchange daily report shows. UCAP led as the most traded stock in terms of volume, accounting for 15.67 percent of the total volume of trades.
The company was followed closely by TRANSCORP (12.69%), ZENITH BANK (12.24%), FIDELITYBK (10.52%) and ACCESS (6.35%) to complete the top five on the volume chart. ZENITH BANK emerged as the most traded stock in value terms, with 27.00 percent of the total value of trades on the exchange.
LEARNAFRCA and NIGERINS topped the advancers’ chart with a maximum price appreciation of 10.00 percent each. The company was followed by AFRIPRUD whose share inched upward by 4.70%, TRANSCORP rose 2.46%, UCAP jumped 2.27% and GTCO did 1.32%.
Also on the list, UBA share price 1.16%, FIDSON increased 0.48%, FBNH up 0.44%, STANBIC edged forward by 0.29% and nineteen (19) others prices reflated.
On the other hand, eighteen (18) stocks depreciated, led by ELLAHLAKES with a price depreciation of 9.88 percent to close at ₦3.83. GUINNESS shed 5.34%, NEIMETH down 4.76%, ETI tumbled 1.67%, ACCESS lost 0.96%, NGXGROUP dipped 0.41%, and FCMB declined 0.33%.
Consequently, the market breadth closed positive, recording 29 gainers and 18 losers. On sectorial performance, it was a bearish outing as four of the five major sectors closed negative.
The insurance index dropped by 0.61%, Consumer Goods fell 0.40% and Banking slow down by 0.08% while Industrial Goods and the Oil & Gas sectors rose by 0.02% and 0.01%, respectively.
“We expect the market to remain positive in the next trading session but more cautious trading from investors”, stock traders at Atlass Portfolios Limited said.
