Nigerian Exchange Gains N52bn as Seplat, GTCO Rally

Nigerian Exchange Gains N52bn as Seplat, GTCO Rally

The equities market capitalisation of the Nigerian Exchange (NGX) inched higher by about N52 billion gain recorded from bargain hunting on Seplat, GTCO among other popular counters traded on Tuesday.

Market data showed that Lagos bourse closed trading activities positively, as key performance indicators increased by +0.16%. According to stockbrokers, from 15.2% on Monday, year-to-date return surged to +15.33% as investors’ wealth jerked up.

The market index or All-Share Index inched upward by 95.17 basis points, representing an increase of +0.16% to close at 59,110.02. However, market activities were down, as the total volume and total value traded dropped by -34.06% and -19.61% respectively.

Atlass Portfolios Limited said in its market note to investors that approximately 588.85 million units valued at ₦8,960.86 million were transacted in 8,272 deals. UBA was the most traded stock in terms of volume, accounting for 13.35% of the total volume of trades.

The Pan African lender was followed by GTCO (11.12%), TRANSCORP (5.73%), ACCESSCORP (5.34%), and VERITASKAP (4.72%) to complete the top 5 on the volume chart. Based on its valuation advantage, GTCO was the most traded stock in value terms, with 23.52% of the total value of trades on the exchange.

SKYAVN, ACADEMY, CHAMS, and GUINEAINS topped the advancers’ chart with a price appreciation of 10.00 percent each. The tickers were trailed by LEARNAFRCA (9.92%), UNITYBNK (+9.82%), SOVRENINS (+9.80%), LASACO (+9.80%), and forty-one others.

Nineteen stocks depreciated, stockbrokers at Atlass Portfolios Limited told investors. CILEASING was the top loser, with a price depreciation of -10.00% to close at ₦4.05. CORNERST (-9.82%), AFRIPRUD (-5.47%), FIDELITYBK (-3.45%), NGXGROUP (-3.11%), and STERLINGNG (-2.03%) also dipped in price.

Trading data showed that the market breadth closed positive, recording 49 gainers and 19 losers Also, the market sector performance closed positive, as all the five major market sectors were up.

The insurance sector led the pack, surging by +1.85% followed by the Oil & Gas sector (which popped up by 1.41%. The Industrial sector rose by 0.09%, the Consumer goods sector gained +0.06% and the Banking sector did by 0.02%.

Overall, equities market capitalisation expanded by ₦51.81 billion to close at ₦32,185.69 trillion from ₦32,133.88 trillion the previous day. #Nigerian Exchange Gains N52bn as Seplat, GTCO Rally

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