Nigerian Exchange Grows by N987bn to N62.90trn
The equities segment of the Nigerian Exchange (NGX) grew by more than N987 billion on Monday in a post-Santa Claus rally amidst a private placement listing by Jaiz Bank. The stock market commenced the final trading week of the year on a positive note, with key performance indicators showing notable gains, up by 1.59% on the day due to sustained bargain hunting.
The market index, or All-Share Index, added 1,016.05 basis points in today’s trading session, reflecting a 0.99% increase to close at 103,149.35, according to data obtained from the local bourse.
The discrepancy between the performance indicators is attributed to the listing via ‘Private Placement’ of Jaiz Bank Plc’s 10,048,237,955 ordinary shares of 50 kobo each at N1.00 per share on the exchange today.
Investors’ sentiment was bullish today, supported by strong buying interest in medium- and large-cap stocks, such as LIVINGTRUST, MTNN, BUAFOODS, NEIMETH and others.
Stockbrokers revealed that equities market activities were mixed, as the total volume trades increased by 41.93% while the total value trades dropped by 11.39%.
In its market note, Atlass Portfolios Limited told investors that approximately 641.12 million units valued at N15,496.84 million were transacted across 13,778 deals. In terms of volume, UNIVINSURE led the activity chart, accounting for 11.20% of the total volume of traded in the equities market.
Other volume drivers include GTCO (8.56%), ACCESSCORP (7.29%), CILEASING (5.06%), and LINKASSURE (3.95%), rounding out the top five. GTCO emerged as the most traded stock in value terms, accounting for 20.12% of the total value of trades on the exchange. MECURE, PRESTIGE, and NEIMETH topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
Other gainers include LASACO (+9.96%), LIVINGTRUST (+9.92%), MEYER (+9.91%), SUNUASSUR (+9.90%), ROYALEX (+9.89%), and thirty-one others.
Twenty-one stocks depreciated, according to data from the Nigerian Exchange. PZ was the top loser, with a price depreciation of -10.00%. Other decliners include VITAFOAM (-9.62%), NGXGROUP (-9.17%), ETERNA (-5.26%), STANBIC (-4.00%), and ELLAHLAKES (-1.59%).
Given the trading direction, the market breadth closed positive, recording 39 gainers and 21 losers. Akin to overall market sentiment, the bulls dominated the sectoral performances as 3 indices closed in green, while 2 posted losses. Leading the pack was the insurance index, which gained 2.45% owing to price upticks in SUNUASSUR (+9.90%).
Additionally, the Consumer Goods (+1.76%) and Industrial Goods (+0.01%) indices also posted gains due to appreciation in BUAFOODS (+5.09%) and BERGER (+8.11%). Elsewhere, the Banking (-0.42%) and Oil and Gas (-0.35%) indices declined, owing to selloffs in STANBIC (-4.00%) and OANDO (-0.52%), respectively.
Overall, the equities market capitalisation of the Nigerian Exchange rose by N987.18 billion, representing a growth of 1.59%, settling at N62.90 trillion.£Nigerian Exchange Grows by N987bn to N62.90trn Moody’s Affirms Seplat’s Corporate Family Rating, Outlook Positive
