The market capitalisation of the equities segment of the Nigerian Exchange (NGX) inched higher by about N95 billion on Thursday, July 20, 2023, reversing the previous day’s loss as listed companies released their second quarter of the financial year 2023 earnings results.
Some unaudited financial statements of listed companies will start popping into the Nigerian Exchange website, stock analysts said the season will boost equities investors’ positioning further.
On Thursday, FBN Holdings Plc has opened the floor for other banks to release their unaudited financial statement. Meanwhile, data from the local bourse showed that performance indicators grew by +0.27%, pushing a year-to-date return to about 25% following bargain bunting seeing in 2023.
Atlass Portfolios Limited stockbrokers said in an investor update that the market index or All-Share Index gained 173.49 basis points, or +0.27%, to close at 63,930.72. Market activity increased as mood improved. The overall volume and total value traded for the day surged by +187.01% and +79.21%, respectively, according to data from the local bourse.
Atlass Portfolios Limited, citing statistics from the Nigerian Exchange, informed investors that in 7,179 transactions, about 1,358.95 million units valued at 18,066.01 million were moved.
UBA was the most traded stock in terms of volume, accounting for 70.77% of the total volume of trades. The Pan African lender was followed by STERLINGNG (3.21%), FBNH (2.97%), JAPAULGOLD (2.65%), and UNIVINSURE (2.58%) to complete the top 5 on the volume chart.
In addition, UBA was also the most traded stock in value terms, with 73.66% of the total value of trades on the exchange. UPL topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by EUNISELL (9.97%), ACADEMY (+9.95%), CHELLARAM (+9.91%), IKEJAHOTEL (+9.38%), and thirty-seven others.
Twenty-one stocks depreciated, where COURTVILLE was the top loser, with a price depreciation of -9.86%, to close at ₦0.64. FTNCOCOA (-9.66%), ABBEYBDS (-9.49%), MAYBAKER (-9.17%), UPDC (-8.55%), and FIDELITYBK (-3.92%) also dipped in price.
At the close of the trading session; market breadth ended the day positive, recording 42 gainers and 21 losers. Also, the market sector performance closed positive.
Trading results from NGX showed that five major market sectors were up, led by the Insurance sector (+1.19%), followed by the Banking sector (+0.59%), the Oil & Gas sector (+0.41%), the Consumer goods sector (+0.30%), and the Industrial sector (+0.01%).
Overall, equities market capitalisation advanced by ₦94.47 billion, representing a growth of +0.27%, to close at ₦34,810.91 trillion from ₦34,716.44 trillion yesterday.
