The Nigerian Exchange’s stocks market capitalization increased as investors saw capital appreciation of around N61 billion. The local bourse extends its bullish run as the market evaluates positions in line with the updated benchmark interest rate.
The Central Bank of Nigeria (CBN) said after its policy committee meeting that interest rates had been hiked to 26.25%, an increase of 150 basis points. The bargain-hunting boosted market activity and transaction volumes, while key performance indicators increased by +0.11%. According to statistics from the local bourse, the All-Share Index rose by 107.45 basis points, or +0.11%, to close at 98,285.33.
However, market activity declines as investors change their books in anticipation of yield repricing in the fixed-income market. Today, , total volume and total value trade reduced by -45.05% and -23.02% respectively.
In its market update, Atlass Portfolios Limited told investors that approximately 222.90 million units valued at ₦5,148.87 million were transacted in 7,228 deals.
GTCO was the most traded stock in terms of volume, accounting for 18.26% of the total volume of trades. Other volume drivers include ACCESSCORP (12.37%), UBA (10.77%), TRANSCORP (10.26%), and JAIZBANK (5.19%).
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Also, GTCO was the most traded stock in value terms, accounting for 31.40% of the total value of trades on the exchange. BERGER topped the advancers’ chart with a price appreciation of 9.96 per cent.
The company was trailed by NESTLE which gained +9.76%. Other gainers are SOVRENINS (+8.11%), ROYALEX (+7.14%), TANTALIZER (+6.38%), REGALINS (+5.88%), and fourteen others. Twenty (20) stocks depreciated
INTENEGINS was the top loser, with a price depreciation of -9.70%. The tickers that recorded loss include DEAPCAP (-8.33%), STERLINGNG (-6.25%), CUSTODIAN (-5.88%), TRANSCORP (-3.88%), and ACCESSCORP (-0.29%).
At the close of business, the market breadth closed flat, recording 20 gainers and 20 losers. In addition, the market sector performance was positive, as two of the five major market sectors were up.
The Consumer goods index grew by +0.79%, the Banking sector rose by +0.16% while the Insurance sector was down by 0.38%. The Industrial and Oil & Gas sectors closed flat. Overall, equities market capitalisation rose by ₦60.92 billion, representing a growth of +0.11%, to close at ₦55.60 trillion.
