NGX Jumps by N187bn as Banking Index Rallies

NGX Jumps by N187bn as Banking Index Rallies

The Nigerian Exchange (NGX) rebounded on Tuesday after opening the week negative. The surge witnessed in the domestic bourse was majorly driven by gains in banking stocks. The exchange had closed negative in the previous week due to a bearish run rough patch on the indices.

Data from the local bourse indicated that performance indicators grew by 0.51% yesterday amidst the third quarter of the year earnings release by listed companies.

At the end of the trading session, year-to-date outrun annual inflation rate further to 31.15%, and stockbrokers remained optimistic that market capitalisation will cross N37 trillion this week.

According to investment firms, the market index or All-Share Index increased by 340.85 basis points, representing an increase of +0.51% to close at 67,217.77.

Stockbrokers reports showed that market activities were up, as the total volume and total value traded for the day increased by +1.68% and 44.26% respectively. Atlass Portfolio Limited approximately 319.90 million units valued at ₦6,330.15 million were transacted in 6,272 deals.

ACCESSCORP was the most traded stock in terms of volume, accounting for 15.91% of the total volume of trades. This was followed by GTCO (13.17%), FIDELITYBK (10.06%), UBA (8.06%), and STERLINGNG (6.07%) to complete the top 5 on the volume chart.

On account of its strong earnings release, GTCO was the most traded stock in value terms, with 23.66% of the total value of trades on the exchange.

FLOURMILL topped the advancers’ chart for today with a price appreciation of 9.93 per cent, trailed by UPL (9.81%), CHAMS (+9.38%), GEREGU (+9.05%), THOMASWY (+9.02%), and sixteen others.

Twelve stocks depreciated. VFDGROUP was the top loser, with a price depreciation of -9.98%, as ABCTRANS (-9.88%), FTNCOCOA (-3.70%), NGXGROUP (-3.67%), VITAFOAM (-3.44%), and OMATEK (-2.33%) also dipped in price.

At the end of the closing session, the market breadth closed positive, recording 21 gainers and 12 losers. In addition, the market sector performance was positive, as two of the five major market sectors closed in the green.

The Banking sector (+1.44%), and the Consumer goods sector (+0.54%), while the Insurance sector was down by -0.46%. The Industrial and Oil & Gas sectors closed flat.

Overall, equities market capitalisation gained ₦187.27 billion, representing a growth of +0.51%, to close at ₦36.93 trillion from ₦36.74 trillion yesterday. #NGX Jumps by N187bn as Banking Index Rallies Nigeria Eurobond Slumps after CBN Resumes OMO Auction