Equities investors won N376 billion on the Nigerian Exchange (NGX) trading platform as oil, banking, and consumer goods stocks gained traction.
SEPLAT (+9.99%), UBA (+4.33%), OANDO (+3.77%), GTCO (+2.00%), and NESTLE (+1.72%) also witnessed increases in their stock prices. As a result, the market index or All-Share Index increased by 624.57 basis points in today’s trading session, closing at 98,694.80, or a 0.64% gain. Similarly, the market capitalization increased by ₦378.43 billion, or 0.64%, reaching ₦59.80 trillion.
According to stockbrokers, today’s excellent performance was driven by investors’ renewed purchasing interest in major market sectors, notably the Oil & Gas sector, which increased by an astonishing +4.43%.
Data revealed that trading activity in the market improved, with total volume and total value traded increasing by 12.87% and 130.46% respectively.
Atlass Portfolios Limited said that roughly 405.02 million units worth ₦27,568.62 million were sold in 8,281 agreements. UBA was the most traded stock by volume, accounting for 34.12% of total trading volume on the Exchange.
Other volume drivers are STERLINGNG (9.77%), ACCESSCORP (7.40%), NB (5.78%), and FCMB (4.98%), which round out the top five. SEPLAT emerged as the most traded stock in terms of value, accounting for 66.57% of total transactions on the exchange.
DAARCOMM and IKEJAHOTEL topped the advancers’ chart with a price appreciation of 10.00 percent each. Other gainers include SEPLAT (+9.99%), PZ (+9.90%), CHAMPION (+9.65%), NNFM (+8.48%), TRIPPLEG (+7.60%) and twenty-four others.
Seventeen stocks depreciated, according to trading record. REGALINS was the top loser, with a price depreciation of -8.20%. Other decliners include CILEASING (-5.01%), DANGSUGAR (-3.00%), CHAMS (-1.50%), MTNN (-1.31%), and FIDELITYBK (-0.36%).
Today, the market breadth closed positive, recording 31 gainers and 17 losers. Sectoral performance was bullish, with four out of the five indices closing positive.
The oil and gas (+4.43%), Insurance (+1.07%), Banking (+0.96%) and Consumer goods (+0.23%) indices all closed in positive terrain, reflecting investors’ interest in SEPLAT (+9.99%) MANSARD (+3.45%), UBA (+4.33%) and NESTLE (+1.72%), respectively. Elsewhere, the Industrial Goods (-0.04%) indices declined due to selloffs in WAPCO (-0.82%), respectively.
Overall, the equities market capitalisation of the Nigerian Exchange rose by N376 billion to N59.80 trillion.
