On Tuesday, the Nigerian Exchange (NGX) stocks market index exceeded 40% as a result of strong deal-hunting activity on the local exchange. There were entry points in some equities with growth potential discovered by alpha hunters who traded the highs and lows.
Market performance indicators therefore increased by +0.33% as a result of investors showing interest in MTNN and the other 23 companies listed on the local exchange. As of October 2023, trading data from Tuesday’s transactions indicated that the year-to-date return had increased to 40.30%, rapidly surpassing an annual inflation rate of 27.33%.
The market index, often known as the All-Share Index, closed at 71,907.26 points, up 237.35 basis points or +0.33%. But according to an update from Atlass Portfolios Limited, market activity was uneven.
Stockbrokers reported a -14.86% decrease in the overall volume traded today. The whole value exchanged, however, rose by +52.54%. Atlass Portfolios Limited reports that 6,498 transactions totaling about 319.56 million units at ₦5,877.99 million were completed.
JBERGER accounted for 13.33% of all transactions, making it the most traded stock in terms of volume. The top 5 on the volume list were completed by the player from the construction firm, ZENITHBANK (7.20%), FCMB (7.16%), GTCO (6.76%), and ACCESSCORP (5.89%).
With 24.90% of the total amount of trades on the exchange, JBERGER was also the most traded stock in terms of value. The advancers’ chart showed INFINITY as the best performer with a price appreciation of 10%, followed by SCOA (9.56%) and DAARCOMM (+8.82%), ROYALEX (+8.47%), NEIMETH (+7.89%), and nineteen others.
Twenty-four stocks depreciated, data from the Nigerian Exchange showed. GUINEAINS was the top loser, with a price depreciation of -10.00%, as CONOIL (-9.83%), OMATEK (-8.75%), ETERNA (-4.96%), JAIZBANK (-3.23%), and STERLINGNG (-1.01%).
At the end of trading activities, the market breadth closed par, recording 24 gainers and 24 losers. In addition, the market sector performance was negative, as two of the five major market sectors were down.
The Oil & Gas sector declined by -1.03%, and the Insurance sector declined by -1.03%. The Banking sector was up by +0.67%. The Consumer goods and Industrial sectors closed flat.
Overall, equities market capitalisation gained ₦129.87 billion, representing a growth of +0.33%, to close at ₦39.35 trillion from ₦39.22 trillion.
