Nigerian Exchange Surpasses N92trn as Equity Investors Gain N109bn
Supported by bargain hunting in bellwether stocks, the Nigerian Exchange (NGX) market capitalisation surpassed N92 trillion on Tuesday as investors showed interest in MTN Nigeria, Lafarge Africa WAPCO, and other risers.
The Nigerian domestic market extended its positive momentum to close today’s trading on a bullish note, with key market indicators advancing by +0.12%.
The stock market uptrend was largely driven by renewed buying interest in some medium- and large-cap stocks, including CONHALLPLC, CHAMS, BERGER, MTNN, and Lafarge Africa (Ticker: WAPCO) among others.
Investor sentiment remained upbeat, supported by improving macroeconomic indicators and moderating interest rates in the fixed income market, which continued to redirect liquidity into equities.
The All share index grew by 0.12%, adding 172.65 basis points to close at 144,995.26. In tandem, Market Capitalization recorded a gain of ₦109.47 billion, representing a 0.12% increase to settle at ₦92.03 trillion.
Market activities were mixed today as the total volume of all trades dropped by -2.41%, while the total value of all transactions consummated on the Exchange climbed by +66.96%.
In a note, Atlass Portfolio Limited told investors that approximately 507.41 million units valued at ₦24,287.62 million were transacted across 30,681 deals.
In terms of volume, ACCESSCORP led the activity chart, accounting for 9.11% of the total volume of all trades conducted in the market, followed by ELLAHLAKES (7.84%), CHAMS (6.12%), SOVRENINS (5.52%), and ARADEL (4.48%) – rounding out the top five.
ARADEL emerged as the most traded stock in terms of value, accounting for 54.28% of the total value of all trades closed on the exchange.
Ticker: CORNERST topped the advancers’ chart with a price appreciation of 9.92 percent, trailed by CONHALLPLC (+9.52%), CHAMS (+9.22%), VFDGROUP (+917%), INTENEGINS (+8.82%), MANSARD (+7.32%) and thirty-three others.
Today, thirty-three stocks depreciated, according to data obtained from the Nigerian Exchange. LIVINGTRUST was the top loser, with a price depreciation of -10.00%, trailed by LIVESTOCK (-7.50%), NEIMETH (-4.48%), FIDELITYBK (-4.30%), GTCO (-4.04%), and ARADEL (-1.59%).
Given the trade direction, the market breadth closed positively, recording 39 gainers and 33 losers. Sectoral performance was mixed.
The banking index slipped by 1.33%, oil & gas fell -0.87%, and the commodity index declined by -0.31%, while the insurance sector climbed by +1.98%, consumer goods rose by +0.26%, and the industrial goods sector inched higher by +0.69%.
Despite the positive sentiment, market activity was relatively subdued, as the number of deals and trading volume declined by 13.55% and 2.41%, respectively. #Nigerian Exchange Surpasses N92trn as Equity Investors Gain N109bn Suspension of Export Proceeds Repatriation Extension: Implications for Nigerian Economy
