NGX Market Cap Surpasses N96trn, Equity Investors Gain N961bn
The Nigerian Exchange (NGX) market capitalisation surpassed N96 trillion as bargain hunting boosted investors’ equity portfolio value by more than N961 billion, boosting year-to-date return to 47.2%.
The local bourse maintains its bullish run, and key market performance indicators climbed by 1.01%. The market’s sustained rally was driven by increased buying interest in medium- and large-scale stocks with noticeable interest BUAFOOD, VITAFOAM, ARADEL, CADBURY among others.
Investors’ optimism on oversold stocks strengthens amid expectations of stronger corporate earnings from listed firms.
The Nigerian Exchange All-Share Index grew by 1,516.10 basis points to close at a fresh historic high of 151,456.91 points, representing a 1.01% increase from the previous session. Similarly, the NGX market cap increased by N962.31 billion to settle at ₦96.13 trillion.
However, trading activities in the market were mixed today, as the total volume of trades increased by +34.95%, while the total value of trades dropped by -23.04%. In its note, Atlass Portfolio Limited told investors that approximately 551.92 million units valued at ₦20,537.22 million were transacted across 27,518 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 10.73% of the total volume traded in the local bourse, followed by VFDGROUP (7.13%), JAPAULGOLD (6.85%), ACCESSCORP (6.78%), and GTCO (5.69%), rounding out the top five.
GTCO emerged as the most traded stock in terms of value, accounting for 14.22% of the total value of trade on the exchange. SCOA topped the advancers’ chart for today with a price appreciation of 7.74 percent, trailed by OMATEK (+7.48%), CONHALLPLC (+6.70%), BUAFOODS (+6.54%), VITAFOAM (+5.92%), LEGENDINT (+5.13%) and twenty-one others.
Thirty stocks were depreciated, trade data obtained from the local bourse revealed. LIVINGTRUST was the top loser, with a price depreciation of -9.91%. Other decliners include CONOIL (-5.83%), SOVRENINS (-3.95%), JAPAULGOLD (-2.31%), ACCESSCORP (-1.77%), and FTNCOCOA (-1.38%).
The market breadth closed negatively, recording 27 gainers and 30 losers. The Consumer Goods (+3.53%) led the sectoral performance following the rallies in BUAFOODS (+6.54%) and VITAFOAM (+5.92%). Next, the Oil & Gas (+2.02%) and Commodity (+0.97%) indexes closed positive, driven by ARADEL (+4.94%).
The Insurance (+0.38%), Banking (+0.21%), and Industrial Goods (+0.16%) indices recorded gains on the back of CORNEST (+4.76%), FIRSTHOLDCO (+4.46%), and WAPCO (+1.10%), respectively. # NGX Market Cap Surpasses N96trn, Equity Investors Gain N961bn
