Nigerian Exchange Surges by N284bn, Boosts by NIDF Listing
The Nigerian Exchange (NGX) opened strong on Monday, with a stream of bargain hunting that lifted key performance indicators on the north side following a negative outing last week.
Investors’ portfolio value increased by N284.44 billion on the day, supported by Chapel Hill Denham’s Nigeria Infrastructure Debt Fund shares listing on the Exchange. The Nigerian Exchange All-Share Index (ASI) advanced by 0.30% to close at 141,433.41 points, elevating the year-to-date return to 37.41%.
The market recorded marginal divergence between the index and the market capitalization, primarily driven by the additional shares of 270,382 units of Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF) on the Daily Official List of the Nigerian Exchange today.
Investor sentiment remained broadly positive, as reflected in the overall market breadth. The momentum was buoyed by renewed bargain hunting in recently depreciated medium- and large-cap stocks across key sectors.
However, market activities were down as the total volume and total value of all trades consummated reduced by -54.63% and -75.63%, respectively. In a note, Atlass Portfolio Limited told investors that approximately 591.25 million units valued at ₦11,658.75 million were transacted across 33,342 deals.
In terms of volume, FCMB led the activity chart, accounting for 17.92% of the total volume of all trades executed in the local bourse, followed by VERITASKAP (10.15%), UNIVINSURE (5.86%), AIICO (4.47%), and GTCO (4.26%), rounding out the top five.
GTCO emerged as the most traded stock in value terms, accounting for 21.43% of the total value of trades on the exchange.
JBERGER topped the advancers’ chart with a price appreciation of 9.93 percent, trailed by CUTIX (+9.86%), REGALINS (+9.70%), VERITASKAP (+9.60%), MCNICHOLS (+9.38%), NEM (+8.83%), and thirty-four others.
Seventeen stocks depreciated, according to trading details obtained from the Lagos bourse. UPL was the top loser, with a price depreciation of -9.92%, trailed by CADBURY (-9.61%), AUSTINLAZ (-6.55%), TANTALIZER (-5.66%), ARADEL (-1.73%), and FIDELITYBK (-0.24%).
Based on the trading direction, the market breadth closed positive, recording 40 gainers and 17 losers.
Sectoral performance was predominantly positive, with gains in the banking (+1.12%), insurance (+3.81%), consumer goods (+0.29%), and industrial (+0.02%) sectors. However, the Oil & Gas (-0.31%) and Commodity (-0.30%) sectors recorded declines. #Nigerian Exchange Surges by N284bn, Boosts by NIDF Listing UBA Super Savers’ Promo Seeks to Deepen Financial Inclusion
