Nigerian Exchange Rises by N132bn as UBA, Zenith, Access Rally
With about N132 billion gain, the Nigerian Exchange (NGX) market capitalisation has increase above N59 trillion market. The equities market recovered from downturn in the previous on the back of improved sentiments.
Hence, NGX year to date return increased to 30.36% on Wednesday, trailing annual inflation rate ahead of consumer price index data release. Due to buying interest seen across key indices, Nigerian Exchange All share index grew by 0.22%, boosting market capitalisation at the same pace.
According to data from the local bourse, the All-Share Index added 217.05 basis points to close at 97,477.80. In its note, Atlass Portfolios Limited told investors that the market recovery reversed yesterday’s loss, driven by bargain hunting in the Financial and Consumer goods sectors.
The market also witnessed particular interest the banking sector. Buying interest in Tier-1 banks: UBA (+3.48%), ZENITHBANK (+2.38%) and ACCESSCORP (+2.70%) nudged banking index higher
Nonetheless, market activities were down, as the total volume and total value traded for today decreased by 29.50% and 18.91% respectively. Stockbrokers said approximately 247.01 million units valued at ₦7,510.53 million were transacted across 8,305 deals.
ACCESSCORP was the most traded stock in terms of volume, accounting for 16.22% of the total volume of traded in the equities market on Wednesday. Other volume drivers include UBA (9.62%), FIDELITYBK (8.63%), UCAP (6.61%), and GTCO (5.97%) to complete the top 5 on the volume chart.
ARADEL emerged as the most traded stock in value terms, accounting for 22.34% of the total value of trades on the exchange. INTENEGINS topped the advancers’ chart for today with a price appreciation of 10.00 percent.
Other gainers include JOHNHOLT (+9.98%), EUNISELL (+9.88%), THOMASWY (+9.71%), UPL (+9.09%), ROYALEX (+8.93%) and twenty-four others. Trading details showed that nineteen stocks depreciated. REGALINS was the top loser, with a price depreciation of -10.00%.
Other decliners include DAARCOMM (-7.46%), UNIVINSURE (-5.88%), NGXGROUP (-5.54%), FIDELITYBK (-1.35%), and FTNCOCOA (-0.53%). Given the trading direction on NGX platform, the market breadth closed positive, recording 30 gainers and 19 losers.
Additionally, the market sector performance was positive, as three of the five major market sectors were up. The Banking sector grew by 1.38%, followed by the Consumer goods sector which gained 0.38%), and the Industrial sector rose by 0.01%.
Meanwhile the Insurance sector was down by -0.58% while the Oil & Gas sector closed unchanged. Overall, the equities market capitalisation of the Nigerian Exchange expanded by ₦131.65 billion to close at ₦59.07 trillion. #Nigerian Exchange Rises by N132bn as UBA, Zenith, Access Rally FX Stability: CBN Sells 122.671m Dollars to 46 Authorised Dealers
