NGX Rises as Investors Find Domestic Bourse Attractive

NGX Rises as Investors Find Domestic Bourse Attractive

The equities segment of the Nigerian Exchange (NGX) inches higher on Monday over sustained buying sentiments in the local bourse, which pushed key performance indicators upward further from the previous week’s records.

On the back of bargain hunting, the All-share index rose by 63.01 basis points today, representing an increase of +0.12% to close at 52,657.69 points with a market return of about 3% year to date.

Stockbrokers said trading market activities were mixed, as the total volume traded for the day dipped by 67.61%, while the total value traded for the day was up by +5.44%. Atlass Portfolios said approximately 143.74 million units valued at ₦1,775.82 million were transacted in 4,078 deals.

According to a market brief, FBNH was the most traded stock in terms of volume. Transactions on the shares of the financial service holdings company accounted for 13.74% of the total volume traded today.

The financial service group was followed by CHAMS (7.84%), GTCO (7.68%), TRANSCORP (7.39%), and STERLNBANK (7.13%) to complete the top 5 on the volume chart. One of the stock market movers, MTNN, was the most traded stock in value terms, with 18.41% of the total value of trades on the exchange.

JOHNHOLT topped the advancers’ chart with a price appreciation of 9.38 percent. The company was trailed by NSLTECH (9.09%), CHAMS (7.69%), GEREGU (6.92%), ABCTRANS (6.90%), and thirteen (13) others.

On the gainers’ list were MTNN which jumped up by 0.04%, GTCO appreciated by 0.21%, ETI inched higher by 0.41%, ZENITH BANK advanced by 0.61% and GUINNESS appreciated by 4.91%.

Stockbrokers stated that thirteen stocks depreciated, and CORNERST was the top loser, with a price depreciation of -10.00% to close at ₦0.54. The Insurer share depreciation was followed closely by CWG which shed 9.62%.

JAPAULGOLD fell by 6.67%, UNITYBNK dropped by 5.17%, and UNILEVER went face down by 2.63% in spite of the fact that market breadth ended positively. Trading data from the local bourse show 18 gainers and 13 losers while the Nigerian indices ended the day on a positive note.

Four out of the five major market sectors were up, led by the Insurance sector (+0.22%), followed by the Banking and Consumer goods sectors, which both grew by (+0.12%), and the Oil & Gas sector (+0.03%). The Industrial sector closed unchanged.

Overall, the Month-to-Date return and Year-to-Date return both printed +2.74% as equities market capitalisation grew by ₦34.32 billion to close at ₦28,681.23 trillion from ₦28,646.91 trillion on Friday. # NGX Rises as Investors Find Domestic Bourse Attractive

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