NGX Rises by N228bn Gain as INTBREW, LENGENDINT Rally
The Nigerian Exchange (NGX) market capitalisation grew to about N66.7 trillion on Monday as equities investors gained more than N228 billion on latest round of rally. The stock market opened the week on a positive note. Year to date return increased as key performance indicators surged by 34 basis points.
The uptrend was fuelled by renewed buying interest in averagely priced key stocks across major market sectors. Equities investors are reacting strongly to first quarter corporate earnings release.
The market index or All-Share Index added 363.13 basis to close at 106,116.18 due to sustained position takings that started strong. Market activities were up mixed, as the total volume of trades increased by 16.94%, while the Total Value dropped by 39.97%.
In its note, Atlass Portfolios Limited told investors that approximately 500.29 million units valued at ₦12,110.98 million were transacted across 17,637 deals.
In terms of volume, ACCESSCORP led the activity chart, accounting for 12.17% of the total volume of traded in the market, followed by FIDELITYBK (11.22%), UBA (6.90%), GTCO (6.70%), and NB (5.66%). GTCO emerged as the most traded stock in value terms, accounting for 18.02% of the total value of trades on the exchange.
INTBREW topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by LEGENDINT (+9.97%) CADBURY (+9.96%), FIDSON (+9.95%), ETERNA (+9.90%), ABCTRANS (+9.62%) and forty-one others.
Sixteen stocks depreciated, according to data from the local bourse. LIVESTOCK was the top loser, with a price depreciation of – 10.00%. Other decliners include ARADEL (-9.86%), JOHNHOLT (-7.94%), LINKASSURE (-6.15%), MBENEFIT (-5.49%), and FIRSTHOLDCO (-1.60%) also dipped in price.
Today, the market breadth closed positive, recording 47 gainers and 16 losers. In addition, the market sectoral performance was positive, as four of the five major market sectors were up, led by the Consumer goods sector, which advanced by (2.38%), followed by the Banking sector by (1.31%), the Insurance sector by (0.32%), and the Industrial sector by (0.31%). The Oil & Gas sector recorded a loss of 2.87%.
Overall, the equities market capitalisation of the Nigerian Exchange increased by ₦228.21 billion, to close at ₦66.69 trillion.#NGX Rises by N228bn Gain as INTBREW, LENGENDINT Rally#
