The Nigerian Exchange’s (NGX) equities market capitalisation grew by approximately N129 billion as shares of FBN Holdings (FBNH) and Flour Mills of Nigeria (FMN) soared.
Resulting in an increase in year-to-date return, the local bourse began the new week on a strong note, with advances noted across key indexes. The market index rose 0.23% as investors bought financial services and consumer goods stocks.
The All-Share Index gained 229.02 basis points to settle at 97,685.64 points. Stockbrokers said the market’s bullish start to the week was fueled by high investor interest in some medium and large-cap stocks. The leading gainers are FBNH, FLOURMILL, GEREGU, and others.
Details from the local bourse revealed that market activities improved. The total volume and total value traded increased by 14.14% and 45.31% respectively. According to Atlass Portfolios Limited, approximately 471.30 million units valued at ₦9,397.93 million were transacted across 12,066 deals.
JAPAULGOLD was the most traded stock in terms of volume, accounting for 15.36% of the total volume of traded in the equities market. Other volume drivers include TRANSCORP (11.00%), FBNH (9.95%), UBA (9.70%), and OANDO (3.53%).
FBNH emerged as the most traded stock in value terms, with 15.51 of the total value of trades on the exchange. In the market, FLOURMILL and FBNH topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include VITAFOAM with (+9.94%) growth, CAVERTON (+9.84%), HONYFLOUR (+9.82%), SUNUASSUR (+9.68%), UNIONDICON (+9.59%), and eighteen others.
Twenty-six stocks depreciated in the equities market. ETERNA was the top loser, with a price depreciation of -10.00%. Other decliners include OANDO (-9.94%), TANTALIZER (-9.86%), MECURE (-9.63%), MANSARD (-3.61%), and TRANSCORP (-1.79%).
Given the trading direction, the market breadth closed marginally negative, recording 25 gainers and 26 losers. Also, the sectoral performance was negative, according to details obtained from the equities market.
Stockbrokers said three out of the five major market sectors ended the trading session in red. The insurance sector which declined by -1.52% followed by the Oil & Gas sector which lost -0.62% while the insurance sector dipped by -0.01%.
The banking and consumer goods sectors advanced by 1.45% and 0.94%, respectively. Overall, the equities capitalisation of the Nigerian Exchange rose by₦128.81 billion to close at₦56.13 trillion.
