On Thursday, the Nigerian Exchange (NGX) saw gains due to buying activity in MTN Nigeria (Ticker: MTNN), Transcorp Power Plc (Ticker: TRANSPOWER), and Dangote Sugar Refinery (Ticker: DANGSUGAR). This increased the value of the stocks market by about N420 billion.
Even if the fixed income market’s government borrowing instruments had higher yields than before, the prolonged market run drove key performance metrics upward. The local exchange had a two-week decline, which was followed by a four-day uptick in the stocks market performance indicators as investor sentiment was tempered by economic uncertainty.
According to Atlass Portfolios Limited, the market has grown by ₦2.70 trillion in four days as a result of capital appreciation. The market index, also known as the All-Share Index, rose by 743.66 basis points at the end of the trading day, or +0.75% to close at 100,335.30.
However, market activities were mixed, stockbrokers said in their update. Total volume traded for the day increased by +33.19%, while the total value traded decreased by -9.11%. Stockbrokers said approximately 554.72 million units valued at ₦17,731.28 million were transacted in 9,708 deals. TRANSCORP was the most traded stock in terms of volume, accounting for 54.42% of the total volume of trades.
The company was followed by STERLINGNG (6.02%), FBNH (4.19%), UBA (3.32%), and ZENITHBANK (3.08%) to complete the top 5 on the volume chart. Likewise, TRANSCORP was also the most traded stock in value terms, with 60.41% of the total value of trades on the exchange.
DANGSUGAR, and MTNN topped the advancers’ chart for today with a price appreciation of 10.00 percent each. The top performers were trailed by TRANSPOWER with (+9.99%) growth, JULI (+9.96%), NASCON (+9.92%), CORNERST (+9.29%), INTENEGINS (+9.21%), and eighteen others.
Thirty-two (32) stocks depreciated, according to stock market data. FTNCOCOA and GUINNESS were the top losers, with a price depreciation of -10.00% each. On the loser chart are: TRANSCORP (-9.95%), IKEJAHOTEL (-9.93%), UPDC (-8.33%), LINKASSURE (-7.50%), and FBNH (-4.38%). Given the trading pattern, the market breadth closed negative, recording 26 gainers and 32 losers.
Today, the market sector performance was par, as two of the five major market sectors were up, led by the Consumer goods sector which grew by +0.62%, the Industrial sector popped up by +0.01%, while the Banking and Insurance sectors were down by -2.57% and -0.15% respectively. The Oil & Gas sector closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦420.47 billion, representing a growth of +0.75%, to close at ₦56.73 trillion.
