Equities investors made a gain of around N241 billion on the Nigerian Exchange (NGX) due to continuous purchasing interest in stocks with upside potential.
The market trend pushed key performance indicators higher by 42 basis points, or 0.42 percent. Investors continue to buy stocks with potential upside, even as they anticipate yield repricing in the fixed income market following the rate hike.
According to trading statistics from the local exchange, the market index, or All-Share Index, rose 418.83 basis points today, or 0.42%, to close at 98,987.42.
The market rallied for four straight days, fueled by investor demand for some medium and large-cap stocks. Investors’ wealth increased by around ₦539 billion in four days.
However, market activities were mixed, as the total volume traded for the day dropped by 20.93%, while the total value traded rose by 6.75%. In a note, Atlass Portfolios Limited said approximately 603.30 million units valued at ₦12,575.46 million were transacted across 9,723 deals.
FIDELITYBK was the most traded stock in terms of volume, accounting for 20.19% of the total volume of traded. Other volume drivers include FBNH (18.04%), TRANSCORP (13.69%), UBA (6.95%), and MANSARD (4.09%) – marking top 5 on the volume chart.
FBNH emerged as the most traded stock in value terms, with 27.49% of the total value of trades on the exchange. FLOURMILL and SEPLAT topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include ELLAHLAKES (+9.97%) HONYFLOUR (+9.87%), ABCTRANS (+9.57%), DEAPCAP (+9.52%), REGALINS (+9.43%) and twenty-four others.
Twenty-four stocks depreciated, according to data from the NGX. MULTIVERSE was the top loser, with a price depreciation of -9.90%. Other loser include CAVERTON (-9.86%), FBNH (-6.45%), FIDELITYBK (-6.40%), JAPAULGOLD (-5.38%), and CHAMPION (-2.81%).
Today, market breadth closed positive, recording 31 gainers and 24 losers. Also, the market sector performance was positive, as three of the five major market sectors inched higher.
The oil and gas sector grew by +3.27%, followed by the consumer goods sector, up by +0.50%, and the industrial sector surged by +0.03%.
The banking and insurance sectors declined by 0.70% and 0.35%, respectively. Overall, the Nigerian Exchange market cap increased by ₦240.67 million, representing a growth of 0.42%, settling at ₦56.88 trillion.
