NGX Rebounds with N53bn Gain as Dangote, GTCO Rally
The Nigerian Exchange (NGX) rebounded with more than N53 billion daily gain as Dangote names, GTCO Plc rally. The domestic bourse closed trading activities on a positive note, breaking its recent losing streaks. This nudged key market performance indicators higher by 0.09% after inflation data.
Today’s gain on the Exchange was driven by bargain hunting in some recently depreciated medium and large-scale stocks, including DANGSUGAR, DANGCEM, GTCO, and others.
The Nigerian Exchange All-Share Index increased by 87.11 basis points today, representing a rise of +0.09% to close at 102,183.06.
Stockbrokers reported that market activities inched higher as the total volume and total value traded in the local bourse increased by 8.41% and 76.82% respectively.
In its note, Atlass Portfolios Limited told investors that approximately 472.16 million units valued at ₦16,695.87 million were transacted across 12,336 deals.
In terms of volume, GTCO led the activity chart, accounting for 13.94% of the total volume traded in the equities market. Other volume drivers include UNIVINSURE (10.41%), FIDELITYBK (9.84%), ACCESSCORP (5.86%), and NASCON (5.71%), rounding out the top five.
GTCO also emerged as the most traded stock in value terms, accounting for 25.60% of the total value of transaction conducted on the exchange.
NNFM topped the advancers’ chart with a price appreciation of 10.00 percent. Other risers included DANGSUGAR (+9.91%), TIP (+9.80%), JOHNHOLT (+9.80%), OMATEK (+9.76%), PRESTIGE (+9.35%) and nineteen others.
Today, thirty-five stocks depreciated, according to data from the local bourse. LIVESTOCK was the top loser, with a price depreciation of -10.00%.
Other decliners include NEIMETH (-9.83%), HONYFLOUR (-9.26%), LINKASSURE (-9.15%), ARADEL (-7.01%), and CUTIX (-1.82%) also dipped in price.
Based on the trading direction, the market breadth closed negative, recording 25 gainers and 35 losers. On the other hand, the sectoral performance was positive as three of the five major market sectors were up.
The industrial sector grew by 1.39%, followed by the Banking sector which rose by 0.22%) and the Consumer goods sector climbed by 0.20%. The Oil & Gas and Insurance sectors dropped by 2.49% and 1.27% respectively
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦53.11 billion to close at ₦62.31 trillion. #NGX Rebounds with N53bn Gain as Dangote, GTCO Rally#
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