NGX Sees Post Easter Rally, Investors Gain N19bn
The Nigeria equity market sustained the previous week’s rally to six consecutive sessions amidst investors bargain hunting in 21 stocks, lifting the local bourse capitalisation higher by more than N91 billion on Tuesday.
Consequent to the buying interest, the Nigerian Exchange (NGX) All-Share Index rose by 35.48 basis points representing a 0.07 percent growth, closed at 47,545.86 points.
In total, equity market capitalisation inched higher by ₦19.13 billion, representing an uptrend of 0.07 percent to close at ₦25.63 trillion. However, the market activities were mixed, as the total volume dipped by 5.12 percent while the total value rose by 76.69 percent.
In a market report, Atlass Portfolios said approximately 365.45 million units valued at ₦7.11 billion were transacted in 5,790 deals.
FIDELTYBK emerged as the most traded stock in terms of volume, accounting for 9.31 percent of the total volume of trades. The tier-2 bank was followed closely by ACCESSCORP (6.61%), MTNN (6.11%), OMATEK (4.94%), and RTBRISCOE (4.16%) to complete the top five on the volume chart. READ: Stocks Dip as Local Bourse Sees Worst Bearish Sessions in Months
Meanwhile, MTNN appeared as the most traded stock in value terms, with 66.43 percent of the total value of trades on the exchange. MEYER topped the advancers’ chart with a price appreciation of 10.00 percent.
The company stock was trailed by GUINNESS (6.86%), UNILEVER (4.51%), STANBIC (3.42%), FBNH (3.02%), UCAP (2.64%), HONYFLOUR (1.37%), ACCESSCORP (0.98%) and thirteen (13) others.
Market data shows that thirty-one (31) stocks depreciated, led by ACADEMY with a price decline of 9.72 percent to close at ₦1.30.
JAPAULGOLD (-9.09%), FCMB (-5.00%), PZ (-3.09%), UBA (-2.44%), NB (-1.67%), LIVESTOCK (-1.14%), WEMABANK (-0.95%), ZENITHBANK (-0.60%), ETI (-0.42%) and WAPCO (-0.22%) also dipped in price. Atlass Portfolios brokers said the market breadth was negative, recording 21 gainers and 31 losers while sectoral performance was negative.
Four of the five major sectors closed bearishly compared to the previous session, namely Banking (-0.31%), Insurance (-0.09%), Oil & Gas (-0.02%), and Industrial Goods (-0.01%). However, the Consumer Goods sector spiked by 0.26 percent.
#NGX Sees Post Easter Rally, Investors Gain N19bn
