Home News Stock Market Cap Nears N28trn as NGX Gains N522 Bln

Stock Market Cap Nears N28trn as NGX Gains N522 Bln

Stock Market Cap Nears N28trn as NGX Gains N522 Bln

Stock Market Cap Nears N28trn as NGX Gains N522 Bln

Equity market capitalisation inches near N28 trillion on Monday while year to date return hits 21.50% after the Nigerian Exchange (NGX) gains N522 billion amidst the ongoing rally. Trading data from the Nigerian Exchange shows that the local bourse sustained the positive uptrend to the seventeenth consecutive session.

Consequent to large buying interest in value and growth stocks listed on the local bourse, market indicators surged by 1.90%, according to stockbrokers at Atlass Portfolios Limited.

The increase in performance indicators came following the investors’ positive sentiment in the market bellwethers such as NB, MTNN, WAPCO, and 33 others. As a result, the Nigerian Exchange All-Share Index rose by 967.45 basis points representing a 1.90 per cent growth, to close at 51,902.48.

Overall, the stock market saw a large gain of ₦521.56 billion, representing an uptrend of 1.90 per cent to close at ₦27.98 trillion. Meanwhile, the market activities remain mixed, as the total volume trade shed 27.61 per cent while the total value rose by 4.63 per cent.

Stock traders said about 337.56 million units valued at ₦5.55 billion were transacted in 7,684 deals. TRANSCORP emerged as the most traded stock in terms of volume, accounting for 11.19 per cent of the total volume of trades.

The company was followed closely by GTCO (7.34%), ZENITH BANK (6.28%), ACCESSCORP (5.73%), and FBNH (4.70%) to complete the top five on the volume chart. READ: NGX Inches Higher Amid Q1 Earnings Season

SEPLAT appeared as the most traded stock in value terms, with 15.17 per cent of the total value of trades on the exchange. Nigerian Breweries Plc Ticker: NB topped the advancers’ list with a price appreciation of 10.00 per cent.

The brewer was trailed closely by MTNN whose share price rose 9.45%, PRESCO gained 4.71%, WAPCO jumped higher by 2.73% and CAP advanced by 2.28%. GTCO inched upward by 1.50% today while FBNH spiked 1.26% and AFRIPRUD did 0.83%.

Also on the gainers’ list, OANDO share appreciated by 0.72%, DANGSUGAR moved up 0.21%, NGXGROUP price grew 0.21% and twenty-five (25) others saw price jumps.

Conversely, twenty-one (21) stocks depreciated, topped by TRANSCOHOT with a price depreciation of 10.00 per cent to close at ₦4.05.

GUINNESS share price gave up the previous gain as the company’s share fell by 9.59%, LIVESTOCK plunged 5.33%, JAPAULGOLD declined 3.23%, TRANSCORP lost 2.52% and CUSTODIAN dipped by 2.10%.

UCAP shed 1.48%, ZENITH BANK share price saw a downward repricing of 0.61% and ACCESSCORP share price pullback by 0.52%, dragging the banking index performance. Overall, the market breadth was largely positive, recording 36 gainers and 21 losers while sectoral performance was positive.

Three of the five sectors closed bullishly compared to the previous session, led by the Consumer Goods (2.11%), Oil & Gas (0.47%), and Industrial Goods (0.21%). The Insurance and banking sectors shed 1.27% and 0.28%, respectively. #Stock Market Cap Nears N28trn as NGX Gains N522 Bln

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