In Thursday’s session, the Nigerian equities market enjoyed its fourth consecutive day of rise, with the Nigerian Exchange (NGX) All Share Index rising by 0.93% to close at 53,998.12 points.
Stock market gains were aided by bargain-hunting in MTNN (+3.9%) and SEPLAT (+9.5%). As a result, the All-Share Index rose to 53,998.12 points, while year-to-date gains increased to 5.4%.
Furthermore, FCMB (+6.82%) and GEREGU (+4.29%) closed higher as a consequence of good investor reaction to their outstanding corporate results and dividends. The overall amount traded jumped by 1331.9% to 2.87 billion units worth N8.07 billion in 3,940 transactions.
With 2.72 billion units exchanged, UNIVINSURE was the most traded stock by volume. AIRTELAFRI was the most traded stock by value, accounting for 43% of transactions at NGN3.49 billion. Oil stocks, particularly MRS (+10.00%) and SEPLAT (+9.50%), led today’s rally, aided by robust investor support, as the NGX Oil/Gas index rose by 5.17%.
Market sentiment was favorable (2.1x) as indicated by market breadth, with 27 tickers gaining vs 13 losers. The largest gains of the day were registered by MRS (+10.0%) and NNFM (+9.9%). Meanwhile, SUNUASSUR (-8.1%) and MBENEFIT (-7.7%) were the biggest losers.
Sector performance was varied, with the Banking (-0.4%) and Insurance (-0.4%) indices falling and the Consumer Goods and Industrial Goods indexes remaining level. The Oil & Gas (+5.2%) index was the sole gainer for the day.
