NGX Rises Above N42Trn as Investors Gain N846bn

The equities market capitalisation of the Nigerian Exchange trended above N42 trillion as shareholders’ wealth increased by more than N846 billion.

Consolidating on the previous day’s performance, the Nigerian bourse rose significantly due to bargain hunting in major tickers.  Data from the exchange showed that key performance indicators surged by +2.04%.

Today’s gain was supported by positive price movement in the financial services segment: Investors showed positive interest in both insurance and banking names.

As a result, the Banking and Insurance sectors, grew by +6.66% and +5.50% respectively.

Stockbrokers at Atlass Portfolios Limited reported that the market index or All-Share Index increased by 1,546.69 basis points today, representing a rise of +2.04% to close at a new high of 77,537.57.

Furthermore, market activities were noted to edge higher given the pattern of trades observed. The total volume and total value traded for the day increased by +79.83% and +91.83% respectively.

Citing data from the Nigerian Exchange, stockbrokers said approximately 927.56 million units valued at ₦10,691.06 million were transacted in 11,629 deals.

FIDELITYBK was the most traded stock in terms of volume, accounting for 11.67% of the total volume of trades. The Tier-2 lender was followed by FCMB (8.54%), UBA (5.99%), UNIVINSURE (5.46%), and ACCESSCORP (5.06%) to complete the top 5 on the volume chart.

According to data from the local exchange, UBA was the most traded stock in value terms, with 14.47% of the total value of trades on the exchange.

BERGER, CUSTODIAN, DANGSUGAR, FCMB, IKEJAHOTEL, INFINITY, MORISON, UBA, UPL, CORNERST, and NASCON all topped the advancers’ chart with a price appreciation of 10.00 per cent each.

These top performers were trailed by MULTIVERSE, and TRANSCOHOT with (9.99%) growth, and sixty-four others.  Seven stocks depreciated, according to market details.

LEARNAFRCA was the top loser, with a price depreciation of -9.09%. Also on the loser chart were: CHAMPION (-7.32%), CILEASING (-2.33%), NGXGROUP (-1.70%), ELLAHLAKES (-1.64%), and CADBURY (-1.17%).

At the end of the trading session, the market breadth closed largely positive, recording 77 gainers and 7 losers. The market sector performance also closed positive.

All the five major market sectors jumped higher,  led by the Banking sector which grew by +6.66%, followed by the Insurance sector increased by +5.50%.

The Consumer goods sector advanced by +2.42%, the Oil and gas sector popped higher by +1.89%, and the Industrial sector grew by +0.31%. Naira Devaluation Deepens Economic Crisis in Nigeria

Overall, equities market capitalisation increased by ₦846.38 billion to close at ₦42.43 trillion.

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