Nigerian Exchange Rises by N35bn on Fresh Rally

Nigerian Exchange Rises by N35bn on Fresh Rally

With pockets of buying interest, the Nigerian Exchange, NGX, rises by more than N35 billion over a new rally in the local bourse, pushing the market index upward further after closing positive on Friday.

Domestic bourse key performance indicators rise 0.15% while year-to-date returns improve, recovering from Airtel Africa’s massive losses reported last week.

The Nigerian Exchange All-share index was up by 64.90 basis points to close at 44,461.63 points, according to trading data.

Market capitalisation spiked by ₦35.35 billion to close at ₦24.22 trillion from ₦24.18 trillion on Friday.  However, market activities were mixed as the total volume traded for the day was down by -24.01%, while the total value traded for the day expanded by 15.08%.

Approximately 72.33 million units valued at ₦2,168.57 million were transacted in 2,887 deals, according to Atlass Portfolios Limited stockbrokers’ note.

TRANSCORP was the most traded stock in terms of volume, accounting for 15.77% of the total volume of trades, followed by NGXGROUP (7.79%), GTCO (7.33%), SOVRENINS (5.72%), and FIDELITYBK (5.45%) to complete the top 5 on the volume chart.

Today’s AIRTELAFRI was the most traded stock in value terms, with 68.71% of the total value of trades on the exchange.

REDSTAREX topped the advancers’ chart with a price appreciation of 8.22 percent, trailed by BETAGLAS (5.90%), WAPIC (5.88%), WAPCO (2.73%), ARDOVA (2.19%), and three (3) others.

Eighteen stocks depreciated, topped by UNILEVER with a price depreciation of -10.00% to close at ₦10.98, as NEM (-9.50%), LASACO (- 4.60%), REGALINS (-4.17%), TRANSCORP (-3.67%), JAPAULGOLD (-3.57%) and OANDO (-3.12%) also dipped in price.

Citing data from the Nigerian Exchange, stockbrokers’ report shows that the market breadth closed negative, recording 8 gainers and 18 losers while the sector performance closed negative.

According to trading data, four out of the five major market sectors were down, led by the Insurance sector, which declined by (- 1.63%), followed by the Oil & Gas sector (-0.38%), Banking sector (-0.37%), and the Consumer goods sector (-0.28%).

Meanwhile, the Industrial sector was up by +0.22%.

# Nigerian Exchange Rises by N35bn on Fresh Rally#

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