Stocks Appreciate N4.17 Billion as NGX Opens Positive
Listed stocks appreciate N4.17 billion Monday as Nigerian Exchange (NGX) opens positive. It could be noted that today’s rally was driven by gains in STANBIC (+1.9%), ACCESS (+1.7%), and UBA (+1.4%), raising the All-Share Index by 2 basis points to 38,220.01 points.
Trading data shows that performance indicators, the Nigerian Exchange All-share indicators (NGX-ASI) jumped 0.02% while stocks market capitalisation increased to N19.9 trillion.
Overall, the domestic bourse market breadth remained positive with 26 gainers versus 16 losers. Meanwhile, Atlass Portfolios analysts said market activities today ended with the volume of trades appreciating by 35.10 per cent and the value of trades declining by 7.24 per cent.
A total of 282.62 million units of shares valued at N1.86billion, were traded in 4,788 deals.
FIDELITYBK led the volume chart, accounting for 9.96 per cent of the total volume of trades, followed by WEMA (6.96%) UNIVINSURE (6.39%) FCMB (5.25%), and SOVERNINS (5.11%) to complete the top five on the volume chart.
ZENITH BANK led the value chart accounting for 17.70 per cent of the total value of trade on the bourse. However, CUTIX, NCR and REGALINS topped the gainers’ chart, with their share prices gaining by 10.00 per cent, 9.69 per cent, and 9.52 per cent, respectively.
On the other hand, REDSTAREX led the losers’ table with its share price declining by 9.81 per cent to close at N3.31 after opening the day at N3.67.
Sector Performance
Afrinvest said performance across sectors under its coverage, performance was positive as 3 indices gained, 2 indices lost while the AFR-ICT index closed flat. The Insurance index led the gainers, up 1.5%, due to buying interest in REGALINS (+9.5%) and WAPIC (+9.3%).
Similarly, the Banking and Oil & Gas indices rose by 0.6% and 0.1% respectively, on the back of price appreciation in STANBIC (+1.9%), ACCESS (+1.7%), and OANDO (+3.7%).
Conversely, the Consumer and Industrial Goods indices fell by 0.4% and 0.1% respectively, driven by sell pressure on DANGSUGAR (-4.1%), FLOURMILL (-1.3%), and WAPCO (-1.2%).
Investors Sentiment
Investors’ sentiment, as measured by market breadth weakened to 1.7x (from 1.8x) as 27 stocks gained while 16 stocks lost. CUTIX (+10.0%), NCR (+9.7%), and REGALINS (+9.5%) led gainers while REDSTAREX (-9.8%), ABCTRANS (-8.1%), and NPFMCRFBK (-7.0%) led decliners.
“In the coming trading session, we expect to see profit-taking activities dominating the market in the absence of any positive catalyst”, Afrinvest said.
Stocks Appreciate N4.17 Billion as NGX Opens Positive
