The Nigerian Exchange (NGX) equities section has reached a new all-time high of N52 trillion, thanks to the popularity of Dangote cement on the local exchange. Following the robust purchasing trend, the stock market’s key performance indicators increased by 2.87%.
On Monday, the local bourse moved positively, but the market breadth finished negative. The market noticed higher purchasing activity in DANGCEM and 23 other stocks. Stockbrokers said that the market index, or All-Share Index, rose by 1,230.00 basis points today, or +1.30%, to close at a record high of 95,768.12.
However, market activity slowed. Total volume and total value traded for the day fell by -14.53% and -4.23%, respectively. Atlass Portfolios Limited stated in its market report that around 721.81 million units valued at ₦14,407.68 million were transacted in 15,757 deals.
TRANSCORP was the most traded stock in terms of volume, accounting for 9.24% of the total volume of trades. The conglomerate was followed by VERITASKAP (6.53%), ACCESSCORP (5.56%), UNIVINSURE (5.40%), and JAPAULGOLD (4.56%) to complete the top 5 on the volume chart.
NESTLE was the most traded stock in value terms, with 13.68% of the total value of trades on the exchange. SUNUASSUR topped the advancers’ chart for today with a price appreciation of 10.00 per cent.
The stock was trailed by DANGCEM with a +9.99% price uptick. Other gainers include TRIPPLEG (+9.81%), ETERNA (+9.80%), CUTIX (+8.89%), UNILEVER (+7.96%), and eighteen others.
Forty-six stocks depreciated, stockbrokers said in the update. FLOURMILL, CADBURY, MCNICHOLS, UPL, and SOVRENINS were the top losers, with a price depreciation of -10.00% each. Selloffs Provoke Spike in Nigerian Treasury Bills Yield
On the loser chart are WEMABANK (-9.58%), CHAMS (-9.15%), NESTLE (-7.19%), FTNCOCOA (-6.51%), and TRANSCORP (2.36%). Given the trading pattern, the market breadth closed negative, recording 24 gainers and 46 losers. In addition, the market sector performance was negative, according to data from the Exchange.
Today, three of the five major market sectors went down. The Insurance sector dropped by 2.53%, followed by the Consumer goods sector which lost -1.48%. Also, the Banking sector slid by 0.90%. The Industrial and Oil & Gas sectors were up by +5.15% and +0.55% accordingly.
Overall, the equities market capitalisation of the Nigerian Exchange increased by ₦673.10 billion to close at ₦52.41 trillion.
