NGX Rises by N273bn as Bull Runs Tick Show
Equities market capitalisation of the Nigerian Exchange (NGX) rose by more than N273 billion on Wednesday as the bull continues to run show in the local bourse. The equities market recorded strong buying interest again in reaction to the spot rates cut at the Central Bank main market auction.
Stockbrokers reported that trading activities ended on a positive note, extending the bourse’s bullish run to eight successive trading days. As a result, market performance indicators grew by +0.47%.
Investors’ increased buying interest was seen across the major market sectors, especially the financial sector, Atlass Portfolios Limited said in its market update.
In total, stockbrokers said investors’ wealth has increased by ₦4.77 trillion in eight days.
Nigerian Exchange data showed that the market index or All-Share Index increased by 482.92 basis points today, representing a rise of +0.47% to close at 104,007.36.
However, market activities went downward, according to NGX results for today. Total volume and total value traded for the day were reduced by -42.21% and -35.93% respectively.
Approximately 326.95 million units valued at ₦9,119.60 million were transacted in 9,570 deals, Atlass Portfolios stated in its market update.
TRANSCORP was the most traded stock in terms of volume, accounting for 11.93% of the total volume of trades. The conglomerate was followed by UNITYBNK (11.39%), GTCO (8.10%), UBA (6.52%), and FBNH (5.70%) to complete the top 5 on the volume chart.
NESTLE was the most traded stock in value terms, with 16.50% of the total value of trades on the exchange. ETI and JBERGER topped the advancers’ chart for today with a price appreciation of 10.00 per cent each.
The duo were trailed by NEM with (+9.92%) growth, RTBRISCOE (+8.89%), DEAPCAP (+8.70%), OMATEK (+8.70%), GUINEAINS (+8.57%), and twenty-five others.
Twenty-three stocks depreciated, stockbrokers told investors in their separate market updates. SKYAVN was the top loser, with a price depreciation of -10.00%. Also on the loser chart are SUNUASSUR (-9.62%), MAYBAKER (-5.90%), JAPAULGOLD (-4.35%), UCAP (-3.98%), and UNILEVER (-3.31%).
Based on the trading pattern, the market breadth closed positive, recording 32 gainers and 23 losers. In addition, the market sector performance was positive.
Today, four of the five major market sectors were up, led by the Banking sector which grew by +1.95%. The Insurance sector rose by 0.79%, the Consumer goods sector edged higher by 0.22% and the Industrial sector advanced by +0.0.03%. The Oil & Gas sector closed flat.
Overall, equities market capitalisation gained ₦273.11 billion, representing a growth of +0.47%, to close at ₦58.81 trillion. #NGX Rises by N273bn as Bull Runs Tick Show
