Nigerian Exchange Expands as Equities Investors Gain N19bn
The Nigerian Exchange (NGX) all-share index climbs as equities investors portfolio value appreciated by more than N19 billion. Stocks rebounded modestly from the previous day’s loss to close today’s session on a positive note, as key performance indicators advanced by 0.03%.
This uptick is a result of the buying sentiment of investors in some mid- to high-capitalized stocks, including UNILEVER (9.65%), INTBREW (4.36%), WEMABANK (3.91%), ACCESSCORP (3.13%), JAIZBANK (1.69%), UBA (0.80%), FIDELITYBK (0.55%), NB (0.31%), STERLINGNG (0.19%), TRANSCORP (0.12%), among others.
Today’s mild recovery was largely driven by renewed buying interest in recently undervalued medium- and large-cap stocks, particularly within the consumer goods and financial services sectors. According to NGX data, the equities market index, or All-Share Index, increased by 30.40 basis points today, representing a rise of 0.03% to close at 104,560.02.
However, the market activities were mixed, as the total volume of trades conducted reduced by 13.87%, while the total value of all transactions increased by 3.35%. In its market update, Atlass Portfolios Limited told investors that approximately 368.77 million units valued at ₦10,871.35 million were transacted across 13,228 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 12.88% of the total volume traded on the exchange, followed by ACCESSCORP (7.62%), ZENITHBANK (6.28%), UBA (5.97%), and FCMB (5.65%), rounding out the top five.
MTNN emerged as the most traded stock in value terms, accounting for 25.25% of the total value of all trades conducted on the exchange. ABBEYBDS topped the advancers’ chart for today with a price appreciation of 9.94 percent, trailed by UNILEVER (+9.65%), LEARNAFRCA (+8.33%), NSLTECH (+7.41%), CONHALLPLC (+7.27%), CUSTODIAN (+5.95%), and seventeen others.
Twenty-nine stocks depreciated, according to data from the Nigerian bourse. NNFM was the top loser, with a price depreciation of -9.97%. Other decliners include CAVERTON (-9.06%), NGXGROUP (-8.36%), HONYFLOUR (-4.78%), UCAP (-4.28%), and FIRSTHOLDCO (-2.40%).
Today, the market breadth closed negative, recording 23 gainers and 29 losers. However, the sectoral performance was positive, as two of the five major market sectors were up.
The consumer goods and insurance sectors recorded growth of 0.72% and 0.15%, respectively. The industrial and oil & gas sectors were unchanged after today’s session, while the banking sector dipped by 0.11%. Overall, market capitalization gained ₦19.10 billion to close at ₦65.70 trillion. #Nigerian Exchange Expands as Equities Investors Gain N19bn Germany Plans €4 Billion for Green Energy Projects in Africa
