Nigerian Bourse Rises by N165bn as FBNH, BUA Rally

The Nigerian Exchange (NGX) equities market capitalisation climbed again on Wednesday as investors increased their interest in FBN Holdings and BUA cement stocks.

Hence, the positive trading activities in the local bourse pushed market performance indicators upward by +0.30%. Although the market breadth was largely negative, bargain hunting in FBNH, BUACEMENT, and 9 others kept the local bourse in the green zone, Atlass Portfolios Limited told investors in an email note.

At the end of the trading session, equities the market index or All-Share Index increased by 301.71 basis points today, representing a rise of +0.30% to close at 101,362.38.

However, market activities were mixed, stockbrokers said in their separate market updates.  The total volume traded for the day increased by -18.18%, while the total value traded was reduced by -1.15%.

Data from the Nigerian Exchange showed that approximately 302.74 million units valued at ₦6,552.26 million were transacted in 8,611 deals.

FBNH was the most traded stock in terms of volume, accounting for 13.08% of the total volume of trades. The financial services stock was followed by JAPAULGOLD (10.03%), TRANSCORP (9.09%), VERITASKAP (7.77%), and GTCO (5.71%) to complete the top 5 on the volume chart.

FBNH was the most traded stock in value terms, with 16.84% of the total value of trades on the exchange. The bank also topped the advancers’ chart for today with a price appreciation of 9.96 per cent.

On the gainers chart are: JULI with (+9.60%) growth, MBENEFIT (+9.38%), REGALINS (+7.32%), BUACEMENT (+4.93%), UPDCREIT (+3.74%), and five others.

Forty-three stocks depreciated, according to data from the exchange. OKOMUOIL was the top loser, with a price depreciation of 10.00%. On the loser chart are JAPAULGOLD (-9.34%), NEIMETH (-7.57%), FLOURMILL (-6.67%), FTNCOCOA (-5.88%), and FIDELITYBK (-4.29%).

At the end of the trading session, the market breadth closed largely negative, recording 11 gainers and 43 losers. However, the market sector performance was positive, as three of the five major market sectors closed positive.

The Industrial sector grew by +1.60%, followed by the Banking sector which rose e by +0.31%, and the Oil & Gas sector did 0.07%. The Insurance and Consumer goods sectors dropped by -2.50% and -0.24% accordingly.

Overall, the equities market capitalisation of the Nigerian Exchange increased by ₦165.09 billion, representing a growth of +0.30%, to close at ₦55.46 trillion. #Nigerian Bourse Rises by N165bn as FBNH, BUA Rally

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