Nigerian Exchange Soars, Equities Investors Gain N704bn
The Nigerian Exchange (NGX) expanded, with the All-Share Index gaining 79 basis points due to bargain hunting in BUA Foods, GTCO, and Unilever Nigeria, among other gainers.
The stock market opened the new week on a strong positive note, as key market performance indicators advanced by 0.82%.The upbeat was driven by sustained and increased buying interest in medium and large-scale stocks such as LIVINGTRUST, UNILEVER, BUAFOODS, CHAMS, and others across key sectors.
This renewed demand effectively reversed the previous session’s losses recorded before the weekend break. Specifically, the market index or All-Share Index added 1,155.32 basis points to close at 141,701.01 basis points.
NGX market cap rose by ₦704 billion to ₦89.63 trillion, supported by renewed buying interest in some stock that recently declined. The market activities were up today as the total volume and total value of trade increased by +25.46% and +47.58% respectively.
In a note, Atlass Portfolio Limited told investors that approximately 545.41 million units valued at ₦23,858.16 million were transacted across 31,293 deals.
In terms of volume, UACN led the activity chart, accounting for 12.11% of the total volume of all trades consummated in the local bourse, followed by REGALINS (10.32%), ACCESSCORP (6.80%), LASACO (5.91%), and CHAMS (5.88%), rounding out the top five.
GEREGU emerged as the most traded stock in terms of value, accounting for 42.69% of the total value of all trades executed on the exchange.
LIVINGTRUST topped the advancers’ chart with a price appreciation of 9.96 percent, trailed by ETRANZACT (+9.70%) growth, REGALINS (+9.64%), NNFM (+8.62%), UNILEVER (+8.41%), MULTIVERSE (+7.83%) and twenty-five others.
Thirty stocks depreciated, according to data from the Nigerian Exchange. MCNICHOLS was the top loser, with a price depreciation of -9.90%, trailed by HONYFLOUR (-9.13%), OMATEK (-1.22%), STERLINGNG (-4.43%), FIRSTHOLDCO (-2.53%), and JAPAULGOLD (-1.82%).
The market breadth closed slightly positively, recording 31 gainers and 30 losers. Sectoral performance was positive as indexes climbed.
The Consumer Goods index (+3.54%) was the best-performing index, driven by price appreciation in BUAFOODS (+6.73%), UNILEVER (+8.41%), CADBURY (+7.48%), and VITAFOAM (+4.39%).
Buying interest in GTCO (+1.29%), ACCESSCORP (+0.75%), and FCMB (+0.93%) collectively buoyed the banking index (+0.05%) to close higher.
On the flip side, the Insurance index (-0.23%) recorded the steepest decline, driven by sell pressures in NEM (-2.31%) and AIICO (-1.68%), while the Oil & Gas (-0.09%) index edged lower following profit-taking actions in OANDO (-1.04%).
The Commodity and Industrial Goods indices closed flat. #Nigerian Exchange Soars, Equities Investors Gain N704bn Nigeria’s Headline Inflation Rate Falls to 20.12% in August
