Nigerian Exchange Jumps as Investors Gain N20.9 Billion
After falling by N340 billion yesterday, the Nigerian Exchange (NGX) jumps Wednesday as investors gain N20.9 billion. Today, the NGX All-Share Index advanced by 0.15 per cent to settle at 38,564.70 points, easing the previous day loss on the exchange.
Nigerian Exchange year to date loss moderated to -4.2% while market capitalisation rose by ₦29.9 billion to close the day at ₦20.1 trillion. The positive performance was underpinned mainly by gains in MTN, ACCESS, SEPLAT, DANGSUGAR, and ZENITH BANK.
Meanwhile, market breadth remained negative with 27 gainers compared to 22 lagers. Stock data shows that market activities closed with the volume of trades appreciating by 1.81 percent and value of trades declining by 23.02 percent.
A total of 302.72 million units of shares valued at N2.80 Bn were traded in 4,387 deals.
STERLNBK led the volume chart with 12.38 percent followed by ETI, GUARANTY, WEMA and JAPUAL. The value chart was led by GUARANTY, accounting for 26.53% of the shares traded on the bourse.
CORNERST MORRISON and LEARNAFRCA led other gainers, grew their share prices by 10.00 percent, 9.68 percent and 6.52 percent respectively.
On the other side, ABBEYBDS led the laggards with its share price depreciating by 9.52 percent to close at N0.95 after opening the day at N1.05
Mixed Sector Performance
Afrinvest said performance across sectors under its coverage recorded a mixed outing as 3 indices gained, while the other 3 lost.
The Oil & Gas index led gainers, up 0.9% amid buy interest in SEPLAT (+1.5%). Likewise, the AFR-ICT and Consumer Goods indices rose by 0.7% and 0.2% respectively following price appreciation in MTNN (+1.2%), DANGSUGAR (+0.3%), and UNILEVER (+1.9%).
Conversely, the Insurance, Banking, and Industrial Goods indices declined by 0.5%, 0.3%, and 3bps respectively due to sell-offs on CHIPLC (-9.5%), GUARANTY (-1.6%), and WAPCO (-0.1%).
Investors Sentiment Strengthens
Investor sentiment, as measured by market breadth strengthened to 1.3x from 0.7x recorded in the last trading session as 27 stocks advanced while 21 stocks declined.
CORNERST (+10.0%), MORISON (+9.7%), and LEARNAFRICA (+6.5%) led gainers while ABBEYBDS (-9.5%), CHIPLC (-9.5%), and CWG (-7.3%) led decliners.
“We expect market sentiment to be a mix of bargain hunting and profit-taking in tomorrow’s trading session”, Afrinvest said.
Nigerian Exchange Jumps as Investors Gain N20.9 Billion
