Nigerian Exchange Crossed N70trn as Investors Gain N1.04trn
Nigerian Exchange (NGX) market capitalisation crossed N70 trillion, its historical high, as equities investors gained N1.04 trillion on Tuesday. The market closed in positive territory, extending the previous session’s rally, pushing key market performance indicators up 1.50%.
The bullish sentiment was driven by sustained buying interest in medium- and large-scale stocks, especially positive price movement in AIRTELAFRI, NAHCO, ARADEL, among others.
Data obtained from the Nigerian Exchange showed that the All-Share Index increased by 1,653.10 basis points today to close at a new all-time high of 111,606.22 points.
However, market activities were down, as the total volume and total value of trades reduced by 1.19% and 11.04%, respectively. In a note, Atlass Portfolios Limited told investors that approximately 409.57 million units valued at ₦9,869.95 million were transacted across 15,992 deals.
In terms of volume, CUSTODIAN led the activity chart, accounting for 9.23% of the total volume of all trades conducted in the market, followed by FIDELITYBK (9.08%), VERITASKAP (8.10%), ZENITHBANK (6.74%), and ACCESSCORP (5.82%), rounding out the top five. GTCO emerged as the most traded stock in value terms, accounting for 15.95% of the total value of trades conducted on the exchange.
AIRTELAFRI topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by OMATEK with (+9.23%) growth, CORNERST (+8.63%), NAHCO (+8.39%), UPL (+6.47%), MANSARD (+5.88%), and twenty-nine others.
Twenty-one stocks depreciated, according to data from the Nigerian bourse. MCNICHOLS was the top loser, with a price depreciation of -9.80%. Other decliners include CHAMPION (-7.38%), JAIZBANK (-4.46%), CADBURY (-4.45%), STERLINGNG (-3.08%), and JAPAULGOLD (-1.00%).
At the end of the trading session, the market breadth closed positive, recording 35 gainers and 21 losers. In addition, the market sectoral performance was positive.
All market sectors were up, led by the insurance sector, which grew by 2.23%, followed by the banking sector, which appreciated by 0.84%. The oil & gas sector climbed by 0.76%, the industrial sector rose by 0.46%, and the consumer goods sector grew by 0.13%. Overall, the equities market grew by ₦1.042 trillion to settle at ₦70.38 trillion. #Nigerian Exchange Crossed N70trn as Investors Gain N1.04trn#
