The Nigerian Exchange (NGX), which had a rough start to the week, recovered on Tuesday. Gains in banking companies were a big factor in the increase seen on the domestic stock exchange. Due to a bearish run rough patch on the indexes, the exchange had closed lower the previous week.
Indicators of performance increased by 0.51% yesterday, according to data from the local exchange, as listed firms released their third-quarter profits.
At the close of the trading day, the year-to-date inflation rate had increased to 31.15 percent, and stockbrokers were still confident that the market capitalization would surpass N37 trillion this week.
Investment firms report that the market index, also known as the All-Share Index, rose by 340.85 basis points, or +0.51%, to close at 67,217.77. Stockbrokers reports showed that market activities were up, as the total volume and total value traded for the day increased by +1.68% and 44.26% respectively. Atlass Portfolio Limited approximately 319.90 million units valued at ₦6,330.15 million were transacted in 6,272 deals.
ACCESSCORP was the most traded stock in terms of volume, accounting for 15.91% of the total volume of trades. This was followed by GTCO (13.17%), FIDELITYBK (10.06%), UBA (8.06%), and STERLINGNG (6.07%) to complete the top 5 on the volume chart.
On account of its strong earnings release, GTCO was the most traded stock in value terms, with 23.66% of the total value of trades on the exchange.
FLOURMILL topped the advancers’ chart for today with a price appreciation of 9.93 per cent, trailed by UPL (9.81%), CHAMS (+9.38%), GEREGU (+9.05%), THOMASWY (+9.02%), and sixteen others.
Twelve stocks depreciated. VFDGROUP was the top loser, with a price depreciation of -9.98%, as ABCTRANS (-9.88%), FTNCOCOA (-3.70%), NGXGROUP (-3.67%), VITAFOAM (-3.44%), and OMATEK (-2.33%) also dipped in price.
At the end of the closing session, the market breadth closed positive, recording 21 gainers and 12 losers. In addition, the market sector performance was positive, as two of the five major market sectors closed in the green.
The Banking sector (+1.44%), and the Consumer goods sector (+0.54%), while the Insurance sector was down by -0.46%. The Industrial and Oil & Gas sectors closed flat.
Overall, equities market capitalisation gained ₦187.27 billion, representing a growth of +0.51%, to close at ₦36.93 trillion from ₦36.74 trillion yesterday.
