NGX Rises by N203bn after Losing Streaks
The Nigerian Exchange (NGX) rose by more than N203 billion after losing streaks in the previous week. The local bourse opened with the return of the bulls after the bears’ grip that held bound key performance indicators.
On Monday, the Nigerian Exchange All-share index rose by +0.60%. Also, the local exchange year-to-date gain advanced to 22.81% following positive price movement in the local bourse.
The market index or All-Share Index added 373.62 basis points, representing an increase of +0.60% to close at 62,943.35 points.
Trading figure showed that market activities improved, Total volume and total value traded for the day increased by +18.24% and +56.66% accordingly. Market traders at Atlass Portfolios Limited told investors in an email that approximately 710.02 million units valued at ₦13,829.29 million were transacted in 8,979 deals.
STERLINGNG was the most traded stock in terms of volume, accounting for 9.30% of the total volume of trades. The tier 2 financial institution was followed by TRANSCORP (8.77%), UNITYBNK (8.41%), ACCESSCORP (7.20%), and UNIVINSURE (7.02%) to complete the top 5 on the volume chart.
DANGCEM was the most traded stock in value terms, with 54.25% of the total value of trades on the exchange. DAARCOMM, FIDELITYBK, and UNILEVER topped the advancers’ chart with a price appreciation of 10.00 percent each.
These stocks were trailed by STERLINGNG (9.97%), JOHNHOLT (+9.94%), GOLDBREW (+9.90%), WEMABANK (+9.88%), and thirty-four others. Twenty-seven stocks depreciated, according to market data. PZ, UBN, and VERITASKAP were the top losers, with a price depreciation of -10.00% each.
FTNCOCOA (-9.93%), ETERNA (-9.89%), ABBEYBDS (-9.87%), NNFM (-9.78%), and JAPAULGOLD (-9.09%) also dipped in price. On Monday, the market breadth closed positive, recording 41 gainers and 27 losers. Despite the rebound, the market sector performance closed negative.
Three of the five major market sectors were down, led by the Industrial sector (-0.69%), followed by the Consumer goods sector (-0.66%), and the Oil & Gas sector (-0.62%), while the Banking and Insurance sectors were up by +7.57% and +0.37% respectively.
Overall, market capitalisation rose by ₦203.44 billion, representing a rise of +0.60%, to close at ₦34,273.28 trillion from ₦34,069.84 trillion last Friday. #NGX Rises by N203bn after Losing Streaks
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