Nigerian Exchange Rises as Investors Gain N26bn
Nigerian Exchange (NGX) market capitalisation rose as equities investors’ portfolio value rose by more than N26 billion on Tuesday. For the second trading sessions, the local stock market closed on a positive note on Tuesday, as the All-Share Index edged up by 0.04% to 105,593.28 points.
The slight gain recorded on Tuesday lifted market capitalisation by 0.04% to N66.21 trillion, adding N26.27 billion to investors’ portfolios, stockbrokers said. As a result of this, year to date return advanced to 2.59% and month to date loss moderated to -2.07%.
Trade metrics showed mixed performance, as total volume declined by 20.70% to 349.33 million units, while trade value increased by 43.98% to N15.1 billion.
ACCESSCORP led in volume with 36.60 million units traded (10.48% of total volume traded), while GEREGU recorded the highest trade value at N8.2 billion (54.53% of total value traded).
Market breadth followed in tandem with the overall bullish sentiment, printing at 1.38x -29 gainers as against 21 losers. MAYBAKER (+10.00%) championed the gainers, while ETERNA (-9.21%) led the laggards.
On gainers chart were STERLINGNG (4.90%), FCMB (4.74%), FIDELITYBK (4.38%), ZENITHBANK (3.24%), WEMABANK (3.23%), UCAP (2.11%), GTCO (1.37%), and FIRSTHOLDCO (1.23%), INTBREW (0.58%), among others.
Despite the positive close, trading activity was subdued, as the number of deals and trading volume fell by 6.49% and 20.70%, respectively. However, transaction value surged by 43.98%, bringing the total turnover to 349.33 million shares worth N15.08 billion across 12,450 transactions.
On sectoral side, three out of the six indexes recorded gains in today’s trading session. The Insurance index (+1.99%) led the gainers’ log following price upticks in MANSARD (+4.65%) and CONHALLPLC (+8.79%).
Trailing closely behind were the Banking (+1.33%) and Industrial Goods (+0.01%) indices, buoyed by buy cares in ZENITHBANK (+3.24%) and CUTIX (+5.22%), respectively.
On the flipside, the Oil & Gas (-1.69%) and Commodity (-0.59%) indices both settled lower due to sell pressures in ARADEL (-3.26%), while DANGSUGAR (-2.78%) dragged the Consumer Goods (-0.10%) index lower. #Nigerian Exchange Rises as Investors Gain N26bn#