NGX Rebounds with N216bn Gain as Investors Re-Enter Positions
Equities investors gained about N216 billion as the Nigerian Exchange (NGX) recovered from sell pressures that held down market capitalisation, and other key metrics. The local bourse snapped its recent losing streaks on Thursday as investors’ re-entered positions where they had previously exited.
Data from the local bourse revealed that key market performance indicators rose by 0.32%, with year-to-date returns advancing after successive downward trends.
The market saw bargain hunting in some recently depreciated medium- and large-cap stocks. These include interest in TRANSCORP, AFRIPRUD, GUINNESS, and others, driving market recovery and the overall sentiment improvement.
Consequently, the market index, or All-Share Index, increased by 344.24 basis points today, representing a rise of +0.32% to close at 106,780.72. However, the market activities were down, as the total volume and total value traded in the local bourse decreased by 3.55% and 9.94% respectively.
In its note, Atlass Portfolios Limited told investors that approximately 375.73 million units valued at ₦10,185.36 million were transacted across 11,447 deals. In terms of volume, GTCO led the activity chart, accounting for 13.30% of the total volume executed in the equities market, followed by ACCESSCORP (11.68%), ZENITHBANK (9.73%), FIDELITYBK (7.22%), and UBA (5.18%), rounding out the top five.
GTCO emerged as the most traded stock in value terms, accounting for 28.62% of the total value of all transactions conducted on the exchange. TRANSCORP topped the advancers’ chart with a price appreciation of 9.98 percent, trailed by SCOA (+9.88%), AFRIPRUD (+9.87%), TANTALIZER (+9.72%), CAVERTON (+9.52%), SMURFIT (+9.09%), and twenty-nine others.
In the market, fifteen stocks depreciated. SUNUASSUR, MRS and REDSTAREX were the top losers, with a price depreciation of -10.00% each. Other decliners include LASACO (-7.99%), STANBIC (-6.25%), CONHALLPLC (-3.65%), CHAMS (-2.44%), and ACCESSCORP (-0.21%).
Given the trading pattern, the market breadth closed largely positive, recording 36 gainers and 15 losers. Also, the market sectoral performance was positive, as four of the five major market sectors ended on a positive note.
The banking sector advanced by 0.83%, followed by the consumer goods sector, which climbed by 0.78%, the insurance sector edged higher by 0.18%, and the insurance sector rose by 0.01%. The Oil & Gas sector dropped by 0.09%.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦215.57 billion, representing a growth of +0.32%, to close at ₦66.87 trillion. #NGX Rebounds with N216bn Gain as Investors Re-enter Positions North Korea Behind $1.5bn Cryptocurrency Heist, Says FBI
