Nigerian Exchange Expands as Investors Gain N365 billion
The equities market capitalisation of the Nigerian Exchange, NGX, expanded as investors gained about N365 billion. The equities market ended today’s trading on a positive note, as key market performance indicators climbed by 0.57%.
The rebound from yesterday’s downturn was fuelled by renewed buying interest in some medium- and large-cap stocks, such as ARADEL, STANBIC, and others. The earnings release from Nigerian listed companies supported the bargain hunting experience in the domestic bourse.
The Nigerian Exchange All-Share Index increased by 590.99 basis points today, representing a rise of 0.57% to close at 104,549.74. However, market activities ended on a mixed note as the total volume traded dropped by 22.24% while the total value grew by 9.99%.
In a market report, Atlass Portfolios Limited told investors that approximately 421.62 million units valued at ₦14,997.78 million were transacted across 16,256 deals.
In terms of volume, UNIVINSURE led the activity chart, accounting for 8.07% of the total volume of trades, followed by FIDELITYBK (7.66%), FCMB (5.55%), JAPAULGOLD (4.85%), and VERITASKAP (4.10%), rounding out the top five.
Ticker: ARADEL emerged as the most traded stock in value terms, accounting for 46.53% of the total transaction value on the exchange.
ARADEL topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by CHELLARAM (+9.98%), STANBIC (+9.92%), UPL (+9.64%), DAARCOMM (+9.09%), RTBRISCOE (+8.33%) and twenty others.
Despite the bargain hunting, thirty-seven stocks depreciated, led by MCNICHOLOS and CAVERTON with a price depreciation of -10.00%. Other decliners include VERITASKAP (-9.79%), ROYALEX (-8.08%), JAPAULGOLD (-3.64%), NEIMETH (-3.00%), and ACCESSCORP (-1.11%).
Trading details revealed that the market breadth closed negative, recording 26 gainers and 37 losers. Sectoral performance was positive today, as four of the five major market sectors were up, led by the Oil & Gas sector, which appreciated by (3.34%).
The consumer goods sector rose by 0.81%, the banking sector climbed by 0.75%, and the industrial sector increased marginally by 0.01%. The insurance sector declined by 1.65%. Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦364.72 billion to close at ₦64.52 trillion. BEDC Builds New 33kv Feeder Line to Improve Power Supply in Edo
