On Wednesday, investors in stocks saw a daily gain of almost N131 billion on the Nigerian Exchange (NGX) as a result of ongoing interest in heavyweight and some lightweight equities.
The year-to-date return increased relative to the annual inflation rate, and the NGX key performance metrics increased by +0.23% as a result of the bargain hunting. FBNH, GUINNESS, WAPCO, and other companies have been the main drivers of the market’s advance, which has increased investor wealth by ₦157 billion in just two days.
The market index index, or l-Share index, increased by 231.71 basis points, or +0.23%, to close at 100,299.48 points, according to a stockbrokers’ update from Atlass Portfolios Limited.
Trading activities in the equities market ended on a mixed note. Details showed that total volume traded for the day dropping by -6.41%, while total value traded increased by +15.47%. Stockbrokers stated that approximately 342.20 million units valued at ₦4,752.88 million were transacted across 7,592 deals.
FIDELITYBK was the most traded stock in terms of volume, accounting for 40.42% of the total volume of trades. The tie-2 lender, which is in the market to raise capital from rights issues, was followed by AIICO, which accounted for 4.38% of trade volume.
Other volume drivers are: ACCESSCORP (4.37%), CORNERST (2.76%), and GTCO (2.74%). FIDELITYBK also emerged as the most traded stock in value terms, with 29.91% of the total value of trades on the exchange.
CORNERST topped the advancers’ chart for today with a price appreciation of 9.57 percent. Other gainers include RTBRISCOE, which gained 9.38%, IMG (+9.24%), CAVERTON (+6.72%), DEAPCAP (+5.56%), GUINEAINS (+5.41%), and twenty-two others.
Today, nineteen stocks depreciated, stockbrokers said in their separate reports. UPL was the top loser, with a price depreciation of -10.00%. Other decliners are DAARCOMM (-5.88%), OMATEK (-5.80%), NEIMETH (-5.63%), OANDO (-2.76%), and DANGSUGAR (-1.19%). At the close of the trading session, the market breadth ended positive, recording 28 gainers and 19 losers.
In addition, the NGX sectorial performance was positive. Four out of the five sectors ended in green following rapid buying interest. The insurance sector grew by +2.67%, followed by the banking sector, which surged by +1.71%.
The Industrial sector rose by 0.17%, while the Consumer goods sector advanced by 0.03%. The Oil & Gas sector closed flat. Overall, the equities market capitalisation of the Nigerian Exchange gained ₦131.08 billion to close at ₦56.74 trillion.
