Nigerian Exchange Crossed N76trn as Investors Gain N1.18trn
A fresh monster rally in the equities market has pushed the Nigerian Exchange (NGX) market capitalisation above N76 trillion mark. The local bourse closed today’s trading session on a positive note, as key performance indicators showed mixed outcomes.
The market index advanced by 1.22%, adding 1,466.87 basis points to close at an historic all-time high of 121,257.69 points, while the year-to-date return edged higher at the same time.
The difference in the key indicators was attributed to the additional listing of Stanbic IBTC Holdings Plc’s 2,944,772,083 ordinary shares of 50 kobo each arising from its rights issue on the exchange today.
Investors’ sentiment remained upbeat, as the local bourse extended its bullish streak to six consecutive trading sessions, driven by strong buying interest across major market sectors.
Trading activities surged in comparison to the previous day’s trade, as the total volume and total value of all trades executed increased by 0.81% and 11.48%, respectively. Atlass Portfolio Limited told investors in a note that approximately 861.67 million units valued at ₦26,176.76 million were transacted across 22,896 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 9.68% of the total volume of all trades executed in the local bourse, followed by CAVERTON (7.49%), ZENITHBANK (7.07%), JAPAULGOLD (6.56%), and ACCESSCORP (5.67%), rounding out the top five.
ZENITHBANK emerged as the most traded stock in value terms, accounting for 13.19% of the total value of all trades closed on the exchange. DANGSUGAR and OANDO topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
The top risers were trailed by CHAMPION (+9.98%), CILEASING (+9.98%), CWG (+9.95%), ELLAHLAKES (+9.94%), LEGENDINT (+9.93%), and fifty-five others. Stockbrokers reported that seventeen stocks depreciated, citing trading details obtained from the Nigerian bourse. Ticker: UPL was the top loser, with a price depreciation of -6.25%.
Other decliners include MULTIVERSE (-4.89%), WAPCO (-4.10%), NESTLE (-3.33%), VFDGROUP (-2.55%), and STERLINGNG (-1.55%). At the close of the trading session, the market breadth closed positive, recording 62 gainers and 17 losers. Also, sectoral performance was positive.
The banking index grew by 2.38%, followed by the consumer goods sector, which appreciated by 2.25%. The industrial sector inched higher by 2.24%, the insurance sector rose by 1.97%, and the oil & gas sector jumped by 1.10%.
Overall, the equities market capitalisation of the Nigerian Exchange rose ₦1.184 trillion, representing a 1.57% increase, to settle at ₦76.76 trillion. #Nigerian Exchange Crossed N76trn as Investors Gain N1.18trn Naira Rallies, Spot Rate Settles at N1547 on FX Injections
