As stocks surged on Thursday, the Nigerian Exchange’s (NGX) equity market capitalization increased by about N6 billion. The year-to-date return has increased to around 33% as investors’ increased purchases of interest rates have pushed key performance indicators higher.
Stockbrokers link the modest increase in the local market today to gains in medium- and large-cap equities, including FBNH, UBA, SEPLAT, and UCAP, among others.
The market index, also known as the All-Share Index, increased by 10.79 basis points today—a modest increase of +0.01%—to close at 99,396.23 as a result of the bargain shopping. The exchange’s data indicated a slight increase in market activity. The whole trading value and volume climbed by +84.84% and +91.55%, respectively.
Atlass Portfolios Limited told investors in its market update that approximately 529.37 million units valued at ₦7,616 million were transacted in 7,616 deals. GTCO was the most traded stock in terms of volume, accounting for 12.51% of the total volume of trades in the equities market.
The most valuable banking group on NGX was followed by UACN, which accounted for 8.78% total volume traded in the market. Other volume drivers were ACCESSCORP (7.52%), CONHALLPLC (5.98%), and UNIVINSURE (5.82%). On account of its huge market value, GTCO was also the most traded stock in value terms, with 27.95% of the total value of trades on the exchange.
CUTIX, and SEPLAT topped the advancers’ chart for today with a price appreciation of 10.00 percent each. Other risers on the chart LASACO with 9.95% price surge, CWG gained 9.85%, UCAP was priced higher by 9.79%, AFRIPRUD share price rose by 9.35%, MBENEFIT popped up by 8.77%, and twenty-five others saw positive price upticks.
Today, sixteen stocks depreciated. DAARCOMM was the top loser, with a price depreciation of -8.93%. Other decliners are CONHALLPLC (-7.98%), MTNN (-6.89%), UNITYBNK (-3.90%), PRESCO (-1.34%), and ZENITHBANK (-0.56%).
With the trade direction, the market breadth closed positive, recording 32 gainers and 16 losers. Furthermore, the market sector performance was positive, as all the five major market sectors advanced.
The oil & gas sector grew by +5.71%, followed by the banking sector, which gained +1.12%, while the consumer goods sector advanced by +0.24%. Also, the insurance sector rallied by +0.11%, and the industrial sector popped higher by +0.01%. Overall, the equities market capitalization of the Nigerian Exchange increased by ₦6.19 billion to close at ₦56.23 trillion.
