Nigerian Bourse Ends with N46bn Gain as Airtel, UBA Rally

The Nigerian Exchange (NGX) ends the trading activities for the week in green after buying interest in Airtel Africa, and support from UBA gain offsets intraday loss.

Trading records showed that buying interest in AIRTELAFRI, UBA, changed the course following selling rallies on banking names which had recorded large gains during the week.

Consequent to this, stock market performance indicators advanced by +0.12% on Friday, increasing year-to-date return. 

Rising far ahead of an annual inflation rate of 27.33%, the market year-to-date return inched to 39.59%, as investors’ wealth was up by approximately ₦46 billion, Atlass Portfolios Limited said in a report.

Stockbrokers noted that the market index or NGX All-Share Index increased by 83.82 basis points today, representing a rise of +0.12% to close at 71,541.74.

However, market activities were mixed, according to data from the Nigerian bourse. The total volume traded for today increased by +15.41%, while the total value traded dropped by -4.53%.

Citing data from the Nigerian Exchange, stockbrokers at Atlass Portfolios Limited said in a report that approximately 503.84 million units valued at ₦7,206.46 million were transacted in 5,747 deals.

REGALINS was the most traded stock in terms of volume, accounting for 13.96% of the total volume of trades. The company was followed by MBENEFIT (13.38%), UACN (10.01%), VERITASKAP (9.88%), and NB (5.69%) to complete the top 5 on the volume chart.

Nigeria’s major stock market mover ticker, AIRTELAFRI, was the most traded stock in value terms, with 27.10% of the total value of trades on the exchange.

MULTIVERSE topped the advancers’ chart for today with a price appreciation of 9.95 percent, trailed by INFINITY (9.94%), PZ (+9.87%), ETI (+9.79%), CHAMPION (+9.09%), and sixteen others. Nigeria Eurobond Slumps after CBN Resumes OMO Auction

Thirty-five stocks depreciated, where FBNH was the top loser, with a price depreciation of -10.00%. On the loser chart were: LEARNAFRCA (-9.82%), NEIMETH (-9.52%), ETRANSACT (-8.45%), FIDSON (-6.18%), and BUACEMENT (-1.53%).

Despite the gain, the market breadth closed negative, recording 21 gainers and 35 losers.  Also, the market sector performance was negative. Three of the five major market sectors slipped, according to trading result on the Nigerian Exchange.

The Insurance sector dropped by 0.78%, followed by the Industrial sector which lost 0.65% and the Oil & Gas sector dipped by 0.57%.

The Banking and Consumer goods sectors were up by +1.60% and +0.15% respectively. Overall, equities market capitalisation advanced by ₦45.87 billion to close at ₦39.15 trillion from ₦39.10 trillion the previous day.