NGX Stops Loss, Investors Gain N126bn
The Nigerian Exchange (NGX) stopped loss on Tuesday as equities investors’ buying sentiment drove the market into the green. The stock market opened the week on a negative note after about N1.6 trillion gain reported last week.
As a result, market performance indicators advanced by +0.42%, stockbrokers told investors in their respective market reports, saying year-to-date return has also improved to 9.34%.
Coming from about N9 billion price depreciation on Monday, equities investors saw a total gain of ₦126.18 billion amidst a fresh rally that greeted the Nigerian bourse.
Data from the Nigerian Exchange showed that the All-Share Index increased by 231.76 basis points, representing an increase of +0.42% to close at 56,038.85.
In a market report, stockbrokers at Atlass Portfolios Limited, market activities were down, as the total volume and total value traded for today dropped by -12.72% and -70.64% respectively.
Approximately 322.49 million units valued at ₦5,824.46 million were transacted in 6,165 deals, according to data from the Lagos bourse. UBA was the most traded stock in terms of volume, accounting for 14.62% of the total volume of trades.
The Pan African lender was followed by ACCESSCORP (12.58%), GTCO (9.38%), FIDELITYBK (7.38%), and JAPAULGOLD (5.23%) to complete the top 5 on the volume chart.
AIRTELAFRI was the most traded stock in value terms, with 30.18% of the total value of trades on the exchange. ETRANSACT topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by ETERNA (9.85%), CORNERST (+9.52%), PHARMDEKO (+9.52%), FTNCOCOA (+9.23%), and twenty-three others.
Market data showed that twenty-three stocks depreciated, where JOHNHOLT was the top loser, with a price depreciation of – 9.88% to close at ₦1.55. MULTIVERSE lost 9.54%, UACN declined by 5.08%, FCMB fell by 4.35%, and TRANSCORP dipped by 0.67%.
Still, the market breadth closed positive, recording 28 gainers and 23 losers. Also, the market sector performance closed positively, as three out of the five major market sectors were up.
Oil & Gas sector which gained 1.02% led the pack followed by the Insurance sector (+0.57%), and the Consumer goods sector (+0.21%). The Banking and Industrial sectors dropped by -0.05% and -0.02% respectively.
Overall, equities market capitalisation inched higher by ₦126.18 billion, representing a growth of +0.42% to close at ₦30,513.48 trillion from ₦30,387.30 trillion yesterday. #NGX Stops Loss, Investors Gain N126bn