Nigerian Exchange Expands as Investors’ Wealth Grows by N486bn
The Nigerian Exchange (NGX) grew to N72.79 trillion as equities investors recorded about N486 billion in capital appreciation on Friday. Key performance indicators are at their all-time highs as momentum continues to build in the local exchange.
According to data obtained from the local bourse, key performance indicators—the all-share index and market capitalisation advanced by 0.67% as the trading session closed for the week.
Trading activity was upbeat, driven by heightened buying interest in mid and large-cap stocks, such as STANBIC, MRS, and 48 others across major market sectors.
Stockbrokers said the broad-based rally reflects sustained investor confidence in the local market. The market index increased by 770.43 basis points today to close at a new all-time high of 115,429.54 points, representing a 0.67% gain.
From a week-on-week perspective, the market index appreciated by 0.71%, and investors’ wealth increased by approximately ₦512 billion. Trading performance revealed that market activities were up as the total volume and total value of all trades conducted in the exchange increased by 102.91% and 28.17% respectively.
In its market update, Atlass Portfolio Limited told investors that approximately 933.23 million units valued at ₦17,952.13 million were transacted across 20,500 deals.
In terms of volume, TANTALIZER led the activity chart, accounting for 45.19% of the total volume of all trades consummated in the market, followed by GTCO (3.81%), ZENITHBANK (3.73%), CWG (3.20%), and FIRSTHOLDCO (2.93%), rounding out the top five.
GTCO emerged as the most traded stock in value terms, accounting for 14.06% of the total value of trades on the exchange.
INFINITY, MAYBAKER, and LIVINGTRUST topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by STANBIC (+9.98%), MRS (+9.94%), LEGENDINT (+9.92%), ELLAHLAKES (+9.90%), FIDSON (+9.87%), and forty-two others.
Twenty-three stocks depreciated, according to stockbrokers. NNFM was the top loser, with a price depreciation of -10.00%. Other decliners include CONOIL (-9.99%), VFDGROUP (-6.90%), FIRSTHOLDCO (-5.37%), CILEASING (-3.12%), and OMATEK (-1.25%).
On Friday, the market breadth closed largely positive, recording 50 gainers and 23 losers. Also, the market sectoral performance was positive, as all five major market sectors closed in the green.
The industrial sector grew by 2.41%, followed by the oil & gas sector, which advanced by 0.93%, and the insurance sector, which rose by 0.87%. The banking sector climbed by 0.20%, and the consumer goods sector edged higher by 0.18%.
Overall, the equities market capitalisation of the Nigerian Exchange advanced by ₦485.83 billion to settle at ₦72.79 trillion, also marking a 0.67% increase. #Nigerian Exchange Expands as Investors’ Wealth Grows by N486bn#
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