Equities investors won more than N197 billion on the Nigerian Exchange (NGX) as ARADEL and OANDO Plc. soared due to increasing demand. The market remained hot as bargain hunters sought out energy stocks, while year-to-date returns increased despite rising inflation rates.
Data from the Nigerian Exchange revealed that key performance indicators increased by 0.33%, with market capitalization expected to reach an all-time high of N60 trillion.
Today’s trading session saw the market index, or All-Share Index, rise 325.80 basis points, or 0.33%, to end at 98,540.93.
The local market continued its upward trend, fueled by bargain shopping in companies such as ARADEL, OANDO, and others. Over the last three days, investors’ wealth increased by ₦3.69 trillion, Atlass Portfolios Limited said in a note.
Stockbrokers said equities market activities ended on a mixed note as the total volume traded reduced by 6.21%, while the total value traded was up by 36.07%.
In its update, Atlass Portfolios Limited told investors that approximately 286.04 million units valued at ₦26,817.03 million were transacted across 9,650 deals.
ACCESSCORP was the most traded stock in terms of volume, accounting for 16.08% of the total volume of traded in the market.
Other volume drivers include ZENITHBANK (10.63%), ARADEL (8.76%), UBA (5.90%), and VERITASKAP (5.30%) to complete the top 5 on the volume chart.
ARADEL emerged as the most traded stock in value terms, accounting for 77.40% of the total value of trades on the exchange.
CHAMPION topped the advancers’ chart with a price appreciation of 9.97 percent. Other gainers include TANTALIZER with (+9.09%) growth, OANDO (+7.93%), ARADEL (+6.09%), ETERNA (+4.86%), UPDC (+3.40%) and nine others.
Twenty-eight stocks depreciated, stockbrokers said. CAVERTON was the top loser, with a price depreciation of – 10.00%. Other losers include CILEASING (-9.80%), STANBIC (-7.11%), NGXGROUP (-4.21%), OMATEK (-2.94%), and CONHALLPLC (-0.66%).
Given the trading pattern, the market breadth closed negative, recording 15 gainers and 28 losers. Today, the sectoral performance in the market was mixed, with two of the five major sectors recording losses.
The Insurance and Banking sectors dropped by 2.11% and 0.78% respectively. On the other hand, the Oil & Gas and Banking sectors posted gains of 0.13% and 0.07% respectively, while the Industrial sector closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦197.41 billion to close at ₦59.71 trillion.
