Return on Nigerian Stocks Rises to 41.91%, Investors Gain N110bn
The Nigerian stock market return rose to 41.91% from the beginning of the year to date as bargain hunting in financial, consumer goods, and industrial stocks lifted equity portfolio value higher by N110 billion on Tuesday.
The Nigerian Exchange (NGX) All Share Index edged up by 0.12% to close at 146,055.89 points. The modest gain was driven by renewed investor interest in some mid- to high-capitalized stocks.
The bargain hunting nudged year-to-date return higher as a result of gains in FCMB, VFD Group, UBA, Ecobank, United Capital, AIICO Insurance, AXA Mansard, and NEM Insurance, among others, like Julius Berger, Lafarge Africa, and Transcorp Plc, among others.
The NGX index surge was fuelled by sustained optimism around market fundamentals, improved corporate earnings outlook, and resilient investor sentiment. Hence, market capitalization increased by ₦110 billion to settle at ₦92.41 trillion, while market breadth remained positive, with 49 gainers outpacing 29 losers, signalling a tug-of-war between bargain hunters and profit-takers.
Trading activities in the stock market were mixed, as the total volume of all trades consummated decreased by -39.63%, while the total value increased by +25.03%. Stockbrokers said approximately 1,277.24 million units valued at ₦24,254.94 million were transacted across 31,155 deals.
In terms of volume, LASACO led the activity chart, accounting for 8.40% of the total volume of all trades, followed by JAPAULGOLD (8.38%), STERLINGNG (7.67%), AIICO (5.09%), and ACCESSCORP (4.79%), rounding out the top five.
GTCO emerged as the most traded stock in value terms, accounting for 10.85% of the total value of all trades closed on the exchange.
ABCTRANS, PRESTIGE, TIP, WAPIC, CHAMPION, ELLAHLAKES, MANSARD, and SUNUASSUR topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by JBERGER (+9.99%), MBENEFIT (+9.97%), VERITASKAP (+9.96%), CORNERST (+9.93%), ROYALEX (+9.92%), and thirty-six others.
Twenty nine stocks depreciated, according to a market report from the Nigerian Exchange. JULI was the top loser, with a price depreciation of -10.00%. Other decliners include UNILEVER (-9.97%), MAYBAKER (-7.69%), AFRIPRUD (-4.79%), CAP (-4.05%), and OANDO (-1.89%).
The stock market breadth closed positive, recording 49 gainers and 29 losers. Sector performance was mixed.
The Insurance (+9.12%) and Industrial Goods (+0.86%) sectors posted strong gains, driven by renewed interest in select counters, while the Banking (-0.22%), Consumer Goods (-0.47%), and Oil & Gas (-0.19%) sectors closed in the red.
The commodities sector ended the week flat at 0%. Overall market activity moderated, as the number of deals and trading volume fell by 22.95% and 39.63%, respectively. #Return on Nigerian Stocks Rises to 41.91%, Investors Gain N110bn 21 Companies in Trillion Naira Valuation Club on NGX
