Nigerian Exchange Crosses N60Trn as Investors Gain N374bn
Equities investors gained more than N374 billion on the Nigerian Exchange (NGX) trading platform as oil stocks Oando Energy and Aradel Holdings drove momentum.
The local bourse sustained its positive streak, closing trading activities for the week in the green with key market performance indicators up by +0.63% on Friday.
Stockbrokers noted that buying interest in some blue-chip and mid-tier stocks and others fuelled the market’s strong performance. The Nigerian Exchange All-Share Index rose by 617.47 basis points today, up by 63 basis points to close at 99,378.06.
Given the trading direction, equities market activities improved as the total volume and total value traded grew by 11.15% and 50.65%, respectively.
In an update, Atlass Portfolios Limited told investors that approximately 544.24 million units valued at N10,631.54 million were transacted across 8,464 deals.
In terms of volume, JAPAULGOLD led the activity chart, accounting for 13.43% of the total volume of traded on Friday on the Exchange. Other volume drivers include ETRANSACT (13.24%), TANTALIZER (10.73%), FCMB (6.19%), and UNIVINSURE (5.07%), rounding out the top five.
ARADEL emerged as the most traded stock in value terms, accounting for 10.52% of the total value of trades on the exchange. Today, ARADEL, IKEJAHOTEL, and CAVERTON topped the advancers’ chart for today with a price appreciation of 10.00 each.
Other gainers include AFRIPRUD with (+9.87%) growth, GOLDBREW (+9.64%), PRESTIGE (+7.79%), OANDO (+7.66%), ETI (+5.88%), and twenty-eight others.
Stockbrokers said fourteen stocks depreciated in the market on Friday. AUSTINLAZ was the top loser, with a price depreciation of -10.00%. Other decliners include ABCTRANS (-8.00%), ROYALEX (-7.69%), FTNCOCOA (-2.26%), UCAP (-1.06%), and STERLINGNG (-1.02%).
Due to the bullish run, the market breadth closed positive, recording 36 gainers and 14 losers. In addition, the market sector performance was positive, as three of the five major market sectors were up.
The insurance sector grew by 1.52%, followed by the banking sector, which gained 0.63%, while the consumer goods sector rose by 0.46%. On the other hand, the oil & gas and industrial sectors closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange increased by N374.30 billion to close at N60.24 trillion. #Nigerian Exchange Crosses N60Trn as Investors Gain N374bn Reforms: Fitch Revises Nigeria’s Outlook to Positive
