Nigerian Exchange Swells as Investors Gain N467bn
The equities market capitalisation of the Nigerian Exchange (NGX) swelled by more than N467 billion on the Santa Claus rally. The local bourse has been on gaining streaks for seven trading session ahead of the Christmas celebration.
The local bourse ended trading session on a bullish note, extending its positive trend to Thursday as demand for value stocks gained momentum. Stockbrokers said in their separate reports that key performance indicators surged by 0.77% on a positive December trading outing.
Market data shows that the Nigerian Exchange All-Share Index grew by 770.56 basis points to close at 101,248.02. Today’s bullish sentiment was driven by investors’ increased buying interest in some large and medium-cap stocks.
In the last eight days, investors’ wealth has increased by N1.90 trillion on the back of sustained demand for stocks with potential upside. On Thursday, equities market activities inched higher as the total volume and total value trades grew by 5.56% and 185.94% respectively.
In its market update, Atlass Portfolio Limited told investors that approximately 411.37 million units valued at ₦26,303.90 million were transacted across 10,260 deals.
In terms of volume, UNIVINSURE led the activity char, accounting for 9.55% of the total volume of traded in the local bourse on Thursday. Other volume drivers include AIICO (5.24%), GTCO (5.10%), UBA (4.65%), and PRESTIGE (3.89%), rounding out the top five.
ARADEL emerged as the most traded stock in value terms, accounting for 18.15% of the total value of trades on the exchange. HONYFLOUR, UACN, and ARADEL topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
Other gainers include NAHCO with (+9.96%) growth, MRS (+9.96%), ETERNA (+9.88%), AFRIPRUD (+9.72%), REGALINS (+9.62%) and thirty-eight others.
Seventeen stocks depreciated, according to stockbrokers. TANTALIZER was the top loser, with a price depreciation of -9.77%. Other decliners include MULTIVERSE (-9.73%), CAVERTON (-7.76%), DANGSUGAR (-7.14%), OANDO (-2.84%), and BUACEMENT (-2.11%).
Based on the trading direction, market breadth closed positive, recording 47 gainers and 17 losers. In addition, the market sector performance was positive, as four of the five major market sectors were up.
The Insurance (+3.79%) maintained its win streak at the close of today’s rendition buoyed by positive sentiments in AIICO (+9.56%). The Banking (+0.73%), Consumer Goods (+0.69%), and Oil & Gas (+0.32%) indices also closed higher, due to price appreciations in GTCO (+1.98%), NB (+7.14%), and MRS (+9.96%). Elsewhere, the Industrial Goods (-0.63%) index closed negative from sell pressures in BUACEMENT (-2.11%).
Overall, the equities market capitalisation of the Nigerian Exchange gained N467.10 billion to close at N61.38 trillion. #Nigerian Exchange Swells as Investors Gain N467bn Namibia Central Bank Cuts Interest Rate to 7%
