NGX Rises N72 bln after 5-Days Selloffs
The Nigerian Exchange (NGX) rises by about N72 billion on Wednesday, halting five days of selling rallies on the local bourse as sentiment improves. Key market indicators inched upward by 0.28 per cent while year to date return improves strongly.
Explaining the market pulse, stockbrokers said the growth was impacted by the investors’ positive sentiment in some blue-chip stocks. The Nigerian Exchange All-Share Index increased by 132.74 basis points representing 0.28 per cent appreciation, to close at 47,287.09, according to Atlass Portfolios Limited, citing market data.
Overall, data from the Nigerian Exchange shows the equity market capitalisation edged forward by ₦71.53 billion to close at ₦25.49 trillion, driven by healthy buying interest.
Today, stock market activities were mixed, as the total volume declined by 55.45 per cent, while the total value traded rose by 61.09 per cent. About 336.31 million units valued at ₦5.86 billion were transacted in 5,248 deals, according to market data quoted by Atlass Portfolios stockbrokers.
FBNH led as the most traded stock in terms of volume, accounting for 32.31 per cent of the total volume of trades. This was followed closely by GTCO (16.10%), UCAP (7.52%), ZENITH BANK (6.63%) and CAVERTON (4.45%) to complete the top five on the volume chart.
Due to its market position, GTCO emerged as the most traded stock in value terms, with 24.37 per cent of the total value of trades on the exchange. PRESCO topped the advancers’ chart with a price appreciation of 10.00 per cent.
The company was trailed by TRANSCORP with 8.49% increase in share price, JAPAULGOD jumped 5.88%, UCAP inched higher 3.31% and FBNH appreciated by 3.14%. READ: Profit-taking by Equities Investors Halts 2-Day Bullish Run
Others are AFRIPRUD with 3.08% share price rise, NB gained 3.01%, NESTLE was priced higher by 2.87%, OKOMUOIL rose 1.48%, FLOURMILL advanced 1.31%, UBA surged 1.19%, ACCESS inched up 1.00%, OANDO gained 0.83% and JBERGER was rerated upward by 0.57% and sixteen (16) others see a price increase.
On the losers’ chart, twelve (12) stocks depreciated, led by ELLAHLAKES with a price depreciation of 9.92 per cent to close at ₦3.45. NEIMETH (-9.34%), CAVERTON (-7.14%), CHIPLC (-1.56%), ZENITH BANK (-1.12%), UACN (-0.54%) and GTCO (-0.19%) also dipped in price.
In that regard, the market breadth closed positive, recording 30 gainers and 12 losers. Sectoral performance was bullish as three of the five major sectors closed positively compared to the previous session, led by Insurance (3.50%), Consumer Goods (2.07%) and Oil & Gas (0.11%). The Banking and Industrial Goods sectors shed 0.04 per cent and 0.01 per cent, respectively.
#NGX Rises N72 bln after 5-Days Selloffs
