As stockbrokers carried out significant buy orders, the equity market’s downward trend came to an end on Thursday. Performance metrics were boosted by the positive share price movements on mid- and heavyweight counters.
According to data from the local exchange, the Nigerian Exchange (NGX) All-share index rose 82.98 basis points today, or +0.16%, to close at 52,290.75. The overall volume and total value traded for today climbed by +89.55% and +39.36%, respectively, indicating a rise in market activity. Stockbrokers at Atlass Portfolios Limited reported 5,963 transactions totaling about 1,270.13 million units worth 7,007.55 million.
The stock with the highest amount of trading was TRANSCORP, which accounted for 40.42% of the total volume of trades. ACCESSCORP (28.49%), CHAMS (4.03%), ZENITHBANK (3.23%), and FIDELITYBK (3.16%) rounded out the top 5.
With 40.85% of the exchange’s total trading value going to ACCESSCORP, the stock was the most actively traded at the time. With a price increase of 10%, MBENEFIT headed the list of advancers, followed by NEM (9.64%), CWG (9.09%), ARDOVA (+8.47%), PRESTIGE (+8.33%), and twenty-seven other stocks.
Seventeen companies lost value, with LINKASSURE being the biggest loss with a price decline of -9.43% to end at $0.48. Other stocks that lost value were REDSTAREX (-8.73%), UPL (-8.29%), CHAMPION (-7.62%), and TRANSCORP (-6.11%).
The market breadth closed positive, recording 32 gainers and 17 losers. Trading recorded from the exchange show that sector performance closed positively.
Four of the five major market sectors were up, led by the Insurance sector (+2.08%), trailed by the Oil & Gas sector (+0.78%), the Banking sector (+0.76%), and the Industrial sector (+0.02%), while Consumer goods sector dropped by -0.29%.
Overall, equities market capitalisation increased by ₦45.18 billion, representing a growth of +0.16% to close at ₦28,472.50 trillion from ₦28,427.32 trillion yesterday.
