Nigerian Exchange Soars as Equities Investors Gain N82bn
The Nigerian Exchange, NGX, market capitalisation soared after sell pressures with investors recording about N82 billion in capital appreciation. ON Thursday, equities market rebounded, halting a two-day losing streak, with 0.12% surge in key market performance indicators. The positive sentiment was fueled by bargain hunting in some recently depreciated medium and small-cap stocks.
Today, equities market index or the All-Share Index added 130.24 basis points today to close at 106,220.62. The market’s recovery highlights renewed investors interest in undervalued stocks, signaling potential short-term momentum in the trading cycle.
However, the market activities were mixed, as the total volume traded on the Exchange dropped by 77.20%, while the total value all transaction conducted jumped by 62.34%.
In its market update, Atlass Portfolios Limited told investors that approximately 341.71 million units valued at ₦16,654.96 million were transacted across 11,233 deals.
In terms of volume, TANTALIZER led the activity chart, accounting for 8.68% of the total volume of traded in the market, followed by ACCESSCORP (8.55%), ZENITHBANK (8.42%), GTCO (7.82%), and UNIVINSURE (6.14%), rounding out the top five.
GEREGU emerged as the most traded stock in value terms, accounting for 46.64% of the total value of all transaction conducted on the exchange. UPDC topped the advancers’ chart for today with a price appreciation of 9.92 percent, trailed by INTBREW (+9.62%), ROYALEX (+9.59%), MULTIVERSE (+8.81%), NGXGROUP (+6.14%), TIP (+5.95%) and twenty-nine others.
All in, twenty stocks depreciated, according to stockbrokers. UPL was the top loser, with a price depreciation of -10.00%. Other decliners include ACADEMY (-9.66%), REDSTAREX (-9.32%), CILEASING (-4.75%), DANGSUGAR (-2.06%), and GTCO (-1.79%).
Data showed that the market breadth closed positive, recording 35 gainers and 20 losers. In addition, the market sectoral performance was positive. The Banking index was the sole-declining index today, declining by 0.50% due to profit taking activities in GTCO (-1.79%).
Conversely, the Consumer Goods (+1.40%), Insurance (+0.62%) and Oil & Gas (+0.05%) Indices all posted gains as price appreciation was observed in INTBREW (+9.62%), CORNERST (+5.11%) and OANDO (+0.57%), respectively. The Industrial Goods and Commodity Indices closed flat. #Nigerian Exchange Soars as Equities Investors Gain N82bn Nigerian Exchange Falls by N73bn as Investors Dump VFD, OANDO
