The Nigerian Exchange (NGX) reached a market capitalization of N50 trillion after stocks investors on the local exchange gained more than N1 trillion every day. Following a strong bullish run, stock market performance indicators increased by +2.04% ahead of fourth-quarter results announcements from publicly traded corporations.
Increased purchasing activity in bellwether stocks such as DANGCEM, BUACEMENT, and others can be contributed to today’s market gain, while the market breadth closed lower. According to Exchange data, the market index or All-Share Index rose by 1,833.70 basis points, or +2.04%, to close at 91,896.97.
However, market activity was uneven, with total volume traded falling by -12.16% but total value traded rising by 17.78%. Atlass Portfolios Limited reported that roughly 1,140.38 million units worth ₦19,293.27 million were traded in 17,804 transactions.
TRANSCORP was the most traded stock by volume, accounting for 13.74% of all transactions. UNIVINSURE (10.05%), VERITASKAP (6.09%), JAIZBANK (5.78%), and GTCO (5.57%) rounded out the top five in terms of volume.
In addition, TRANSCORP was the most traded stock in terms of value, accounting for 15.35% of all trades on the market. CONOIL, JOHNHOLT, NEM, ETERNA, and UNITYBNK led the advancers’ chart today with a price increase.
These companies were trailed by PZ with (+9.96%) growth, MAYBAKER (+9.96%), MCNICHOLS (+9.94%), ABBEYBDS (+9.93%), HONYFLOUR (+9.92%), and twenty-three others. The stock market showed that forty-one (41) stocks depreciated, where IKEJAHOTEL was the top loser, with a price depreciation of -9.79%.
On the loser chart are: ROYALEX (-9.78%), MBENEFIT (-9.57%), LINKASSURE (-9.40%), CADBURY (-5.96%), and FBNH (2.53%) also dipped in price. Based on the trading pattern, the market breadth closed negative, recording 33 gainers and 41 losers.
In addition, the market sector performance was positive, as three of the five major market sectors were up, led by the Industrial sector which grew by +7.83%, followed by a 2.69% surge in Oil &Gas index. Naira Somersaults as CBN Makes Zero FX Injection
The Consumer goods sector advanced by +0.87%. The Insurance and Banking sectors were down by -2.11% and -1.89% respectively. Overall, the equities market capitalisation of the Nigerian Exchange jumped by ₦1.005 trillion to close at ₦50.29 trillion.
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