NGX Rebounds, FBNH, ACCESS, STERLING Bank Buck Positive Trend
FBN Holdings, Access and Sterling Plc traded against positive market direction on Friday on the Nigerian Exchange. Equities investors gained more than N114 billion due to bargain hunting on valued stocks.
The Nigerian Exchange (NGX) wrapped up trading activities for the week in the green with 20 basis points surge in as key performance indicators.
On Friday, the market index or All-Share Index rose by 198.95 basis points to close at 98,247.99. The local market reversed Thursday’s losses, driven by investors’ buying interest in medium and large-scale stocks.
Supporting the strong daily gain, FIDSON, BERGER, MTNN, and others witnessed positive price movement. This positive momentum contributed to an approximately ₦455 billion increase in investors wealth on a week-on-week basis.
Equities market trading activities inched higher as the total volume and total value traded increased by 30.94% and 50.26% respectively.
Stockbrokers at Atlass Portfolios Limited said approximately 473.09 million units valued at ₦11,369.76 million were transacted across 9,848 deals.
JAPAULGOLD was the most traded stock in terms of volume, accounting for 23.36% of the total volume of trades on the NGX. Other volume drivers include UACN (12.67%), FIDELITYBK (10.67%), HONYFLOUR (5.71%), and GTCO (3.23%).
UACN emerged as the most traded stock in value terms, with 18.20% of the total value of trades on the exchange.
FIDSON topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by MEYER with (+9.98%) growth, CAVERTON (+9.82%), PZ (+9.81%), ACADEMY (+9.69%), FIDELITYBK (+9.68%) and twenty-eight others.
Twenty-one stocks depreciated, according to trading data obtained on the Nigerian Exchange. FBNH was the top loser, with a price depreciation of -9.98%, as NNFM (-9.96%), FLOURMILL (-9.91%), MECURE (-9.47%), STERLINGNG (-5.65%), and ACCESSCORP (-3.06%) also dipped in price.
Trading record showed that the market breadth closed positive, recording 35 gainers and 21 losers.
In addition, the market sector performance was positive, as three of the five major market sectors were up, led by the Insurance sector which grew by +2.39%, followed by the Oil & Gas sector which surged by 0.41%, and the Industrial sector was up by +0.01%. The Banking and Consumer goods sectors dropped by 0.61% and 0.38% respectively. #NGX Rebounds, FBNH, ACCESS, STERLING Bank Buck Positive Trend
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