On Thursday, the combined wealth of equity investors on the Nigerian Exchange (NGX) surged by about N567 billion due to a surge in MTN Nigeria and Oando Plc.
Despite uneven results scorecards from listed businesses, the Nigerian stocks market ended trading on a favorable note as investor mood continued to rise.
According to data, the year-to-date return climbed as the key performance indicators for the equity market rose by 1.03%. Today, the NGX All-Share Index increased by 999.27 basis points, or 1.03%, to close at 98,118.30.
Investors’ wealth increased by ₦676 billion in two days as a result of increased buying interest on the local exchange for recently depreciated medium- and large-cap companies including MTNN, VITAFOAM, NB, and others, according to a market report from Atlass Portfolios Limited.
Stockbrokers reported that activity in the equity market improved, with overall volume and total value traded rising by +24.40% and +18.45%, respectively. 9,059 sales totaling about 791.78 million units for ₦15,126.20 million were completed.
With 19.20% of all trades on the Nigerian stock exchange on Thursday, ACCESSCORP was the most traded stock in terms of volume. JAPAULGOLD (6.17%), UBA (7.39%), ABBEYBDS (8.40%), and GTCO (18.20%) are some more volume drivers.
GTCO emerged as the most traded stock in value terms, accounting for 36.60% of the total value of trades on the exchange. MTNN, VITAFOAM, and UNILEVER topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include OKOMUOIL which popped higher by +9.99%, OANDO (+9.97%), RTBRISCOE (+9.91%), IMG (+9.86%), NB (+9.85%), and twenty-five others.
Stockbrokers said in their separate market update that nineteen stocks depreciated on the Nigerian Exchange. Reversing previous trend, UCAP was the top loser, with a price depreciation of -9.94%.
STERLINGNG (-5.66%), IKEJAHOTEL (-5.56%), INTBREW (-4.97%), AFRIPRUD (-4.08%), and DANGSUGAR (-1.88%) are some of the other decliners. The market breadth concluded positively, showing 33 winners and 19 losers, in light of the trading trends. Four of the five main market sectors increased marginally, continuing the trend from yesterday. This indicates that the market sector performance was favorable.
After the consumer goods sector saw a gain of 0.54%, the banking sector saw an increase of +1.72%. The insurance sector saw an additional 1.38% appreciation. While the Industrial sector fell by -0.03%, the Oil & Gas sector increased by +0.33%. The Nigerian Exchange’s whole equity market capitalization increased by ₦567.50 billion, closing at ₦55.71.
