Nigerian Exchange Market Cap Rises by N310bn to N89.87trn
The Nigerian Exchange (NGX) market capitalisation rose by about N310 billion to N89.87 trillion on Wednesday due to bargain hunting in some mid, and large cap stocks.
Trading activities in the local bourse closed on positive territory, with key performance indicators advancing by 35 basis points.
The local bourse rebounded came after the previous day’s loss, buoyed by cherry-picking activities in some medium and large-cap stocks, such as ARADEL, INTBREW, and DANGCEM among others.
Investor sentiment was largely shaped by ongoing reactions to recently released macroeconomic reports, which influenced trading decisions across key sectors.
Specifically, the NGX All-share index increased by 490.04 basis points today, representing a rise of 0.35% to close at 142,034.87.
Stockbrokers reported that the market Capitalization surged by ₦309.67 billion, representing a growth of 0.35%, to close at ₦89.87 trillion.
Furthermore, market activities were up today as the total volume and total value of all trades consummated surged by +142.09% and +90.46% respectively.
In a note, Atlass Portfolio Limited told investors that approximately 1,004.64 million units valued at ₦24,655.47 million were transacted across 23,281 deals.
In terms of volume, ABBEYBDS led the activity chart, accounting for 40.00% of the total volume of trades, followed by FIDELITYBK (25.41%), UBA (2.32%), FIRSTHOLDCO (2.25%), and ACCESSCORP (1.74%), rounding out the top five.
ARADEL emerged as the most traded stock in terms of value, accounting for 27.94% of the total value of trade on the exchange. CHELLARAM topped the advancers’ chart for today with a price appreciation of 9.77 percent, trailed by AUSTINLAZ (+9.67%), TIP (+8.08%), SOVRENINS (+7.37%), ARADEL (+6.97%), INTBREW (+6.96%) and twenty others.
Thirty-one stocks depreciated, according to trading details obtained from the market. GUINEAINS was the top loser, with a price depreciation of -9.70%, trailed by LEGENDINT (-7.27%), CHAMS (-5.60%), WEMABANK (-4.11%), TANTALIZER (-2.40%), and WAPCO (-2.34%).
Despite today’s buying momentum, the market breadth closed negatively, recording 26 gainers and 31 losers. Sectoral performance was mixed, with 4 out of 6 indexes posting gains.
The Oil & Gas (+2.59%) and the Commodity (+1.25%) indexes closed higher, driven by the price uptick in ARADEL (+6.97%). Similarly, the Consumer Goods (+0.90%) and Industrial Goods (+0.06%) indexes also improved due to buying interests in INTBREW (+6.96%) and DANGCEM (+0.98%), respectively.
The Insurance (-1.61%) and Banking (-0.16%) indexes, on the other hand, were pressured by declines in CORNEST (-8.68%) and GTCO (-1.05%), respectively. # Nigerian Exchange Market Capitalisation Rises by N310bn to N89.87trn Naira Falls as USD Demand Surges, Foreign Reserves Hits $41.9bn
