NGX Market Cap Hits N93.3trn, Equities Investors Gain N497bn
The Nigerian Exchange (NGX) market capitalisation added 0.54 per cent or N497 billion, to an opening of N92.798 trillion to close at N93.295 trillion.
This is sustaining the bullish performance for 11 consecutive sessions The All-Share Index also gained 0.54 per cent or 793.70 points to close at 146,988.04 points, against 146,204.34 points posted on Thursday.
Gains in Dangote Cement, Nem Insurance, Jaiz Bank, FTN Cocoa Processors and 21 other stocks drove the market to positive terrain. Meanwhile, the market breadth closed flat with 25 gainers and 25 losers on the floor of the Exchange.
On the gainers’ chart, Dangote Cement led by 6.48 per cent, settling at N575, FG202031S1 followed by 6.18 per cent, ending the session at N109.44 while Nem Insurance increased by 5.23 per cent, closing at N29.15 per share.
Jaiz Bank increased by 4.65 per cent, finishing at N4.50 and FTN Cocoa Processors soared by 3.57 per cent, closing at N5.80 per share. Conversely, Union Home Real Estate led the losers’ chart by 9.98 per cent, ending the session at N51.85 while Meyer lost by 9.85 per cent, settling at N15.10 per share.
Sterling Nigeria dropped by 9.58 per cent, finishing at N7.55 and Cornerstone Insurance dipped by 6.90 per cent, to close at N6.21 per share. Also, Etranzact International fell by 6.25 per cent, closing at N15 per share.
An assessment of the market activity revealed an improvement in the market volume and decline in the deals and value as 386.6 million shares worth N11.26 billion were exchanged across 21,842 transactions.
This is compared to 346.99 million shares worth N27.43 billion that was traded in 24,691 deals. Meanwhile, Fidelity Bank led the activity chart in volume for the second time in the week, with 47.3 million shares valued at N959.3 million.
CHAMS followed with 38.5 million shares worth N169.8 million and Japaul Gold sold 21.8 million shares valued at N56 million. Zenith Bank traded 18.2 million shares worth N1.26 billion while FCMB transacted 18.1 million shares valued at N195.2 million.
Sectoral performance turned bearish with only two indexes posting gains in today’s session. The Industrial Goods (+2.84%) index led the charge, followed by the Consumer Goods (+0.02%) index, driven by buying interests in DANGCEM (+6.48%) and NB (+0.19%), respectively.
Elsewhere, the Insurance (-1.30%) index was the worst-performing index, driven by profit-taking in CORNERST (-6.90%). The Banking (-0.08%) index also closed lower following sell pressures in ZENITHBANK (-1.01%), while the Oil & Gas (-0.14%) and Commodity (-0.06%) indexes fell due to sustained selloffs in ARADEL (-0.29%). Chams Riding a Wave of Positive Market Momentum Post-Rights Issue
