Nigerian Exchange Climbs as Equity Investors Gain N97bn
The Nigerian Exchange (NGX) market capitalisation climbed on Thursday as equity investors gained more than N92 billion in a wide price upswing that has lasted for three days.
Trading activities closed on a positive note, and the bargain hunting boosted key market performance indicators by 0.10%. The stock market index, or the All-Share Index, increased by 152.28 basis points, or 0.10%, to close at 145,476.15 basis points.
Also, NGX market capitalisation climbed by ₦97.06 billion to close at ₦92.73 trillion. Despite the negative breadth, the market rally reflects investors’ continued caution in the stock market.
Stockbrokers reported buying interest in selective stocks including OANDO, WAPIC, UACN, TRANSCORP, GTCO, and others across all sectorial indexes.
In contrast, market activities inched lower as the total volume of all trades and their combine value by -14.15% and -8.47% respectively. Today, approximately 1,932.45 million units valued at ₦19,192.53 million were transacted across 23,369 deals.
FIDELITYBK was the volume driver, accounting for 9.04% of all stocks volume executed in the local bourse, followed by GTCO (8.25%), ZENITHBANK (7.90%), ETI (6.38%), and ACCESSCORP with 5.16%.
GTCO topped value chart, accounting for 19.52% of total value of all trades executed on the exchange – the highest traded on the exchange.
UACN led gainers chart, up by +10.00%, trailed by MORISON (+9.94%), ETI (+8.53%), WAPIC (+8.47%), MANSARD (+7.75%), FTNCOCOA (+7.10%), and seventeen others.
A total of twenty-eight (28) stocks depreciated, according to market report released by Atlass Portfolio Limited. With a price depreciation of -10.00%, ELLAHLAKES and EUNISELL both topped the worst performers’ chart, followed by TRANSCOHOT (-9.95%), OMATEK (-9.23%), GUINEAINS (-8.46%), and CAP (-6.16%).
Hence, the market breadth closed on a negative note, as there were 23 gainers and 28 losers. The sectoral performance was positive, as all five major market sectors appreciated. The insurance sector led with an increase of +1.56%, followed by the banking sector (+0.91%), the industrial goods sector (+0.48%), the consumer goods sector (+0.28%), and the oil & gas sector (+0.08%). Beating Inflation With Fixed-Income Instruments
