Nigerian Exchange Market Capitalisation Rises to N37T
The Nigerian Exchange (NGX) equities market capitalisation hits N37 trillion as investors continue to spot value in some companies. There was growing interest in some mid-cap stocks which pushed key indicators higher.
Stock market performance indicators increased by +0.04% with year-to-date returns racing far ahead of the annual inflation rate in the country. At the close of the trading session, the year to date advanced to 31.42%, far ahead of an annual inflation rate of 26.72% following capital appreciation of ₦15 billion.
The All-Share Index increased by 27.11 basis points, according to data from the local bourse, representing a rise of +0.04% to close at 67,353.23. However, market activities were mixed, as the total volume traded for the day increased by 5.18%, while the total value traded dropped by 9.10%, Atlass Portfolios Limited said in its market report, citing data from the exchange.
Stockbrokers said approximately 397.56 million units valued at ₦4,699.32 million were transacted in 6,165 deals.
WEMABANK was the most traded stock in terms of volume, accounting for 22.40% of the total volume of trades. The tier-2 lender was followed by ACCESSCORP (8.96%), UBA (8.85%), FIDELITYBK (8.41%), and GTCO (5.89%) to complete the top 5 on the volume chart.
GTCO was the most traded stock in value terms, with 17.63% of the total value of trades on the exchange. GUINEAINS topped the advancers’ chart with a price appreciation of 9.09 per cent, trailed by ETERNA (6.86%), UNITYBNK (+5.49%), JAIZBANK (+5.26%), OMATEK (+4.55%), and fourteen others.
Eighteen stocks depreciated, according to stockbrokers. MULTIVERSE was the top loser, with a price depreciation of -9.49%. Stocks on the loser chart included UNITYBNK (-9.00%), CWG (-10.00%), AFRIPRUD (-7.14%), FTNCOCOA (-6.29%), and ACCESSCORP (-1.18%).
The trading pattern showed that the market breadth closed marginally positive, recording 19 gainers and 18 losers. The market sector performance closed positive, as three of the five major market sectors advanced.
The Banking sector grew by +0.74%, followed by the Insurance sector by (+0.27), and the Oil & Gas sector by (+0.22). The Industrial sector declined by 0.06% while the Consumer goods sector closed flat.
Overall, equities market capitalisation edged higher by ₦15.29 billion, representing a growth of +0.04%, to close at ₦37.00 trillion from ₦36.99 trillion the previous day. Naira Devaluation Deepens Economic Crisis in Nigeria
