NGX Market Capitalisation Advances as Investors Earn N20.4 Billion
Nigerian Exchange (NGX) market capitalisation advances to N20.4 trillion on gains from banking index gains due to buying interest in Zenith, and Ecobank Transnational Incorporation (ETI) stocks.
Investors gain printed at N20.4 billion as trading activities ended positive, having consolidated the for the third time gain out of four trading session in the week.
As such, the benchmark index advanced by 0.10 per cent to close at 39,210.10 points. Market breadth remained positive with 19 gainers and 15 losers.
Today, market activities closed on a lower note with both volume and value of trades depreciating by 12.76 per cent and 43.52 per cent respectively. A total of 158.35 million units of shares valued at N2.23 billion were traded in 3,330 deals.
ZENITH led the volume sheet with 17.25 per cent as STERLNBK, UBA, TRANSCORP and CHAMS completed the top 5 volume sheet, while ZENITH also led the value sheet accounting for 28.14% of the shares traded.
LINKASSURE, PZ and MAYBAKER led other gainers, grew their share prices by 9.09 percent, 7.14 percent and 5.00 percent respectively.
While CWG led the losers chart with its share price depreciating by 9.60 percent to close at N1.13 after opening the day at N1.25.
Mixed Sector Performance
Afrinvest said performance across sectors under its coverage was mixed as 2 indices gained, 2 lost and 2 also closed flat. The Banking and Consumer Goods indices gained 0.5% and 0.4% respectively due to buying interest in ZENITH (+0.7%), ETI (+4.0%), UNILEVER (+5.0%), and DANGSUGAR (+1.4%).
On the flip side, the Insurance and Industrial Goods indices lost 1.0% and 1bp respectively on the back of sell pressure on WAPIC (-6.8%), CHIPLC (-9.0%), and CAP (-4.8%) . Meanwhile, the AFR-ICT and Oil & Gas indices closed flat.
Investor Sentiment Wanes
Investor sentiment as measured by market breadth weakened to 1.3x from 4.2x recorded in the last trading session as 19 stocks advanced while 15 stocks declined.
LINKASSURE (+9.1%), PZ (+7.1%), and UBN (+5.0%) led gainers while CWG (-9.6%), CHIPLC (-9.0%), and ABCTRANS (-7.5%) led decliners.
“In the last trading session of the week, we suspect that profit taking may dominate the local bourse”, Afrinvest said.
NGX Market Capitalisation Advances as Investors Earn N20.4 Billion
