Stocks Appreciate as NGX Breaks 6-Day Losing Streaks
Nigerian stocks appreciate as Nigerian Exchange (NGX) breaks 6-day losing streaks on Tuesday, with the mild growth moderating month to date loss.
Today’s gain was spurred by buying interest in banking and industrial indices, pushing the market indicators upward after selling rallies in the past trading sessions.
Consequently, the Nigerian Exchange All-Share Index increased by 10.32 basis points, representing an upturn of 0.02 per cent to close at 42,018.92 points.
Stock market capitalisation advanced by ₦5.38 billion to close at ₦21.93 trillion, with month-to-date loss moderated to -2.8%, while the year-to-date return was unchanged at +4.3%.
Market activities remained bullish as the total volume and value traded rose by 51.46 per cent and 23.63 per cent, respectively.
A total of 639.44 million units valued at ₦5.53 billion were transacted in 4,564 deals, according to data from the Nigerian Exchange.
FBNH topped as the traded stock in terms of volume, accounting for 56.93 per cent of the total volume of trades.
The stock was followed closely by STERLNBANK (12.66%), ETI (3.09%), GTCO (3.04%), and FIDELITYBK (2.91%) to complete the top five on the volume chart.
Again, FBNH emerged as the most traded stock in value terms, with 62.02 per cent of the total value of trades on the exchange. ABBEYBDS appeared as the most profitable stock to lead the advancers’ chart with a price appreciation of 9.47 per cent.
The mortgaged company’s stock was trailed by NEM (7.56%), WAPCO (5.41%), ZENITHBANK (2.13%), ETI (1.88%), FIDSON (1.63%), GTCO (0.84%), UBA (0.67%), VITAFOAM (0.25%), and eleven (11) others.
On the flipside, nineteen (19) stocks depreciated, topped by GLAXOSMITH with a price depreciation of 9.32 per cent to close at ₦5.35.
SEPLAT share price tumbles 5.38%, DANGSUGAR decline 3.23%, FLOURMILL dropped off 2.25%, OANDO sheds 2.17%, and FBNH dips 1.71%.
Other losers include UCAP (-1.02%), NGXGROUP (-0.88%) and NAHCO (-0.28%). Overall, the market breadth closed marginally positive, recording 20 gainers and 19 losers.
The sector performance was relatively positive, as three of the five sectors appreciated, led by Insurance (1.14%), trailed by Banking (1.13%) and Industrial Goods (0.29%), respectively.
The Oil & Gas (-2.70%) and Consumer Goods (-0.52%) declined as against the previous session. #Stocks Appreciate as NGX Breaks 6-Day Losing Streaks
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