The Nigerian Exchange (NGX) welcomed a bullish performance in the equities area of the market, with investors trading highs and lows and taking positions in value and growth stocks. On Tuesday, investors gained over N272 billion as a result of significant buy-side activity on the local stock market.
The market is still expecting big banks to announce earnings and pay out competitive interim dividends to shareholders. The strong daily gain was driven by purchasing activity in FBNH (+9.98%), OANDO (+9.98%), OKOMUOIL (+9.98%), JBERGER (+10.00%), and TOTAL. Market statistics revealed that JBERGER (+10.00%) topped the gainers, while UPL (-9.58%) led the laggards.
Trading records from the exchange showed that the all-share index added 472.85 basis points today, reflecting a 0.49% increase to close at 96,510.13. According to stockbrokers at Atlass Portfolios Limited, investors’ buying appetite has increased across all main market sectors, particularly the oil & gas sector, which increased by 4.14%.
Trading activity in the local market increased slightly due to improved sentiment. Total volume and value exchanged increased by 13.48% and 45.08%, respectively.
Atlass Portfolios Limited quoted statistics from the local bourse, which show that 443.16 million units worth ₦5,635.17 million were traded in 8,493 transactions.
VERITASKAP was the most traded stock in terms of volume, accounting for 18.76% of the total volume of trades, followed by ACCESSCORP (12.64%), UNIVINSURE (6.57%), FBNH (5.34%), and FCMB (4.72%) to complete the top 5 on the volume chart. Today, ACCESSCORP emerged as the most traded stock in value terms, accounting for 18.94% of the total value of stocks traded on the exchange.
JBERGER, JOHNHOLT, NEIMETH, and TOTAL topped the advancers’ chart with a price appreciation of 10.00 percent each. These gainers were trailed by OKOMUOIL, OANDO, and FBNH, which gained +9.98% each. Other risers include ETERNA (+9.96%), ABEYBDS (+9.87%), and thirty-eight others.
Fourteen stocks depreciated, according to data from the Nigerian equity market. UPL was the top loser, with a price depreciation of -9.58%. Other decliners include CUTIX (-6.25%), VITAFOAM (-5.17%), TRANSCORP (-5.08%), DANGSUGAR (-4.40%), and CHAMS (-0.47%). Based on trading trajectory, the market breadth closed positive, recording 47 gainers and 14 losers.
All five indexes closed positive in today’s rendition. Oil & Gas (+4.14%), Banking (+1.45%), Insurance (+1.30%), Consumer Goods (+0.45%), and Industrial Goods (+0.04%) indices recorded gains driven by positive sentiments in OANDO (+9.98%), FBNH (+9.98%), CORNEST (+8.58%), INTBREW (+6.64%), and JBERGER (+10.00%), respectively.
Overall, the equities market capitalisation of the Nigerian Exchange rose by N271.61 billion to close at N55.44 trillion on Tuesday.
