The market capitalization of the Nigerian Exchange (NGX) increased as investors in stocks made gains of almost N59 billion. The increase came after the industrial index supported the purchase of banking brands. Important performance metrics improved, bringing the year-to-date return closer to the annual inflation rate of 34.19%.
The Nigerian stock exchange reported that the all-share index closed at 100,075.59, up 103.95 basis points. The worth of stock investors increased by ₦229 billion in just two days, as reported by Atlass Portfolios Limited.
Stockbrokers reported that based on the observed trading pattern, market activity grew somewhat as the total volume and total value traded climbed by +1.64% and +0.78%, respectively. In an email statement, Atlass Portfolios Limited said that 8,151 deals totaling about 368.39 million units at ₦7,424.73 million were completed.
ZENITHBANK was the most traded stock in terms of volume. Transactions on bank stock accounted for 15.63% of the total volume traded. Other volume drivers include ACCESSCORP (10.00%), GTCO (7.94%), JAIZBANK (7.71%), and UBA (5.53%) to complete the top 5 on the volume chart.
Also, ZENITHBANK also emerged as the most traded stock in value terms, with 30.27% of the total value of trades on the exchange. UCAP topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by CUTIX, which gained +9.84%. Other gainers are SUNUASSUR (+7.75%), CORNERST (+7.69%), UACN (+7.42%), HONYFLOUR (+4.55%), and thirteen others.
In the market today, fifteen stocks depreciated, according to data from the local bourse. REDSTAREX was the top loser, with a price depreciation of 9.82%. Other decliners are MCNICHOLS (-9.01%), ETERNA (-4.44%), FTNCOCOA (-2.17%), JAPAULGOLD (-2.04%), and WEMABANK (-0.75%).
At the close of the trading session, the market breadth closed positive, recording 19 gainers and 15 losers. Nonetheless, the market sector’s performance was negative.
Sectoral results showed that three of the five major market sectors ended in red. The insurance sector dropped by 0.36%, followed by the oil & gas sector, which dipped by 0.26%, while the consumer goods sector lost 0.07%.
On the positive side, the banking and industrial sectors grew by +0.61% and +0.07%, respectively. Overall, the equities market capitalization of the Nigerian Exchange gained ₦58.99 billion to close at ₦56.67 trillion.
