The Nigerian Exchange’s stocks market capitalization trended above N42 trillion, with shareholders’ wealth increasing by more than N846 billion.
The Nigerian bourse surged strongly, consolidating on the previous day’s performance, thanks to bargain hunting in big tickers. According to exchange data, key performance indicators increased by +2.04%.
Today’s increase was aided by strong price action in the financial services sector: investors were interested in both insurance and banking stocks.
Banking and insurance industries expanded by +6.66% and +5.50%, respectively. Atlass Portfolios Limited stockbrokers said that the market index or All-Share Index gained by 1,546.69 basis points today, reflecting a +2.04% increase to conclude at a new high of 77,537.57.
Furthermore, market activities were noted to edge higher given the pattern of trades observed. The total volume and total value traded for the day increased by +79.83% and +91.83% respectively. According to statistics from the Nigerian Exchange, about 927.56 million units worth $10,691.06 million were traded in 11,629 transactions.
FIDELITYBK was the most traded stock by volume, accounting for 11.67% of total transaction activity. The Tier-2 lender was followed on the volume list by FCMB (8.54%), UBA (5.99%), UNIVINSURE (5.46%), and ACCESSCORP (5.06%).
According to data from the local exchange, UBA was the most traded stock in terms of value, accounting for 14.47% of total transaction value on the market.
BERGER, CUSTODIAN, DANGSUGAR, FCMB, IKEJAHOTEL, INFINITY, MORISON, UBA, UPL, CORNERST, and NASCON led the advancers’ table, each with a price increase of 10%.
These top performers were trailed by MULTIVERSE, and TRANSCOHOT with (9.99%) growth, and sixty-four others. Seven stocks depreciated, according to market details.
LEARNAFRCA was the top loser, with a price depreciation of -9.09%. Also on the loser chart were: CHAMPION (-7.32%), CILEASING (-2.33%), NGXGROUP (-1.70%), ELLAHLAKES (-1.64%), and CADBURY (-1.17%).
At the end of the trading session, the market breadth closed largely positive, recording 77 gainers and 7 losers. The market sector performance also closed positive.
All the five major market sectors jumped higher, led by the Banking sector which grew by +6.66%, followed by the Insurance sector increased by +5.50%. The Consumer goods sector advanced by +2.42%, the Oil and gas sector popped higher by +1.89%, and the Industrial sector grew by +0.31%.
