NGX Rises by N316bn over Renewed Interest in GEREGU, FBNH
Equities investors trading highs and lows on the Nigerian Exchange (NGX) platform gained more than N316 billion due to positive price appreciation is some bellwethers on Wednesday.
Trading activities ended in positive territory, as key performance indicators surged by 0.56% after disinflation. The market index or All-Share Index added 545.28 basis points today, reflecting a 0.56% increase to close at 98,230.92 points.
Investor sentiment remained positive, driven by increased buying interest in some medium and large-cap stocks. Top gainers in the market include FBNH, ETERNA, GEREGU and others.
Due to the sustained rally, investors on the Nigerian Exchange has seen a surge of ₦871 billion in investors’ wealth in the last four successive trading sessions. Stockbrokers reported that market activities inched lower, as the total volume and total value traded for the day decreased by 23.34% and 19.49%, respectively.
In a note to investors, Atlass Portfolios Limited said approximately 361.30 million units valued at ₦7,566.54 million were transacted across 9,627 deals. JAPAULGOLD was the most traded stock in terms of volume, accounting for 17.78% of the total volume of trades on NGX.
Other volume drivers include FBNH (7.41%), UBA (7.14%), UPDC (5.06%), and TRANSCORP (4.95%). GEREGU emerged as the most traded stock in value terms, accounting for 17.82 of the total value of trades on the exchange.
HONYFLOUR topped the advancers’ chart with a price appreciation of 9.96 percent. Other gainers include MEYER (+9.95%), ACADEMY (+9.89%), CAVERTON (+9.68%), GEREGU (+9.52%), DAARCOMM (+9.23%) and twenty others.
Twenty-six stocks depreciated, stockbrokers said. NNFM was the top loser, with a price depreciation of -10.00%. Other decliners include BERGER (-9.81%), LIVESTOCK (-9.09%), INTBREW (-5.58%), FLOURMILL (-4.92%), and TRANSCORP (-2.73%) also dipped in price.
Given the trading direction, equities market breadth closed par, recording 26 gainers and 26 losers. However, the market sector performance was positive, as three of the five major market sectors ended in green.
The banking sector grew by +1.06%, followed by the Insurance sector which gained +0.59%, and the Oil & Gas sector popped higher by +0.35%. The Consumer goods and Industrial sectors dropped by 1.06% and 0.07% respectively.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦316.13 billion to close at ₦56.45 trillion. #NGX Rises by N316bn over Renewed Interest in GEREGU, FBNH CBN Defends Naira with $39m in Forex Market
