Due to a nice bounce on Monday that followed bargain hunting on DANGCEM (+5.8%) and STANBIC (+9.2%), equity investors profited almost N536 billion. Thus, despite business results reports, the All-Share Index rose 1.5% to 68,111.71 points.
Exchange data indicated that following the Supreme Court’s decision on the 2023 presidential election, investors’ confidence rose and market performance indicators increased by +1.45%.
The stock market’s year-to-date gain was +32.90%, soaring over an annual inflation rate of 26.72% thanks to the robust bullish run. Stockbrokers reported a sharp rise in market activity during the day.
The Nigerian stock exchange reported increases in total volume and total value traded of +100.98% and +59.57%, respectively. Trading data indicated that transactions in the amount of around 430.39 million units, valued at ₦8,257.92 million, occurred in 7,656 deals.
“The total volume traded increased significantly by 101.0% to 430.39 million units, valued at NGN8.26 billion, and exchanged in 7,656 deals. UNIVINSURE was the most traded stock by volume at 94.75 million units, while GEREGU was the most traded stock by value at NGN1.95 billion”, stock analysts said.
With 22.37% of the total trade volume, UNIVINSURE was the most traded stock in terms of volume. The insurer topped the volume table, followed by UBA (12.10%), CUSTODIAN (7.85%), TRANSCORP (7.67%), and ZENITHBANK (5.77%).
With 23.64% of the total value of trades on the market, GEREGU was the most traded stock in terms of value. Top of the advancers’ leaderboard was NNFM, which had a ten percent price increase. CHELLARAM (9.77%), UACN (+9.54%), NAHCO (+9.45%), TIP (+9.43%), and forty other companies lagged behind the stock.
MEYER was the worst-performing stock among the sixteen (16) depreciating stocks, with a price depreciation of -9.87%. Among the losers are JAIZBANK (-5.95%), NASCON (-2.76%), STERLINGNG (-1.42%), FIDELITYBK (-0.61%), REGALINS (-8.33%), and NASCON (-2.76%).
As measured by market breadth, market sentiment was positive (2.8x), as 44 tickers gained relative to 16 losers. From a sectoral perspective, gains in the Industrial Goods (+3.0%), Banking (+1.2%), Insurance (+0.9%), and Consumer Goods (+0.4%) indices reflected the overall market performance. Meanwhile, the Oil & Gas index stayed flat.
Overall, equities market capitalisation inched higher by ₦535.74 billion, representing a growth of +1.45%%, to close at ₦37.42 trillion from ₦36.89 trillion last Friday.
Dollar To Naira Exchange Rate For 31st Oct 2023
