NGX Tops N145trn as Industrial, Banking Stocks Rally
The Nigerian Exchange (NGX) topped N145 trillion on Friday, driven by cement, banking and oil stocks. The stock market closed the week on a positive note, with key market indicators rising 1.30%.
The bullish performance reflected strong investor confidence, as they maintained positive trading momentum, shown by their buying across all major market sectors.
Medium and large-cap stocks such as WAPCO, OANDO, BUACEMENT, DANGCEM, WEMABANK, among others, recorded significant price appreciation at the close of trading today.
The NGX All-Share Index added 2,886.65 basis points in today’s trading session, reflecting a 1.30% increase to close at 225,724.33. Also, stock market capitalisation rose by ₦1,858.62 billion, a 1.30% increase, to ₦145.34 trillion.
However, the Total Volume of trades declined by -6.04% while the Total Value traded, on the other hand, increased by +16.76%. Approximately 627.62 million units valued at ₦44,512.90 million were transacted across 55,232 deals.
ACCESSCORP accounted for 12.09% of all volume traded in the local bourse, followed by UBA (6.89%), WEMABANK (6.63%), ZENITHBANK (6.14%), and UNIVINSURE with 4.71%.
In terms of value traded, MTNN accounted for 18.49% of total trade, making it the most traded on the exchange.
ACADEMY and UPDC topped the gainers’ chart, up by +10.00% each, trailed by HMCALL (+9.97%), ZICHIS (+9.94%), WEMABANK (+9.84%), ETI (+8.79%), LIVINGTRUST (+8.63%), and thirty-six others.
A total of twenty-five (25) stocks depreciated. With a price depreciation of -9.92%, MEYER topped the worst performers’ chart, followed by TRANSEXPR (-9.30%), CILEASING (-8.53%), OMATEK (-7.34%), ETRANZACT (-5.28%), and FIDSON (-4.90%).
Hence, the market breadth closed on a positive note, with 43 gainers and 25 losers. The sectoral performance was positive today, with all five major market sectors rising.
The Industrial goods sector appreciated by 4.36%, followed by the Banking sector (+1.86%), the Oil & Gas sector (+0.24%), the Consumer goods sector (+0.12 %), and the Insurance sector (+0.06%).
