The Nigerian Exchange (NGX) gained more than N263 billion on Monday, thanks to continued interest in UBA, Stanbic IBTC, and OANDO shares, as well as new interest in Airtel Africa.
As a result, despite the FTSE Russell reduction of the Nigeria Index, stock market performance indicators increased by 0.71%; year-to-date return inched upward, racing far ahead of annual inflation.
Investors raised their purchasing interest in AIRTELAFRI, OANDO, UBA, and other companies, according to stockbrokers, maintaining the exchange in the black despite the highly inflated atmosphere.
According to data from the Nigerian Exchange, the year-to-date return increased to 32.44%, with investors’ wealth increasing by nearly 263 billion. The market index, or the NGX All-Share Index, climbed by 481.43 basis points, or a +0.71% rise to close at 67,877.17 points.
Furthermore, market activities were up, as the Total Volume and Total Value traded for the day increased by +26.03% and +70.55% respectively. According to Atlass Portfolios Limited, approximately 516.28 million units of stocks valued at ₦8,925.83 million were transacted in 8,357 deals in the local exchange on Monday.
UBA was the most traded stock in terms of volume, accounting for 21.30% of the total volume of trades. The Pan African lender was followed by UNIVINSURE (12.72%), TRANSCORP (8.23%), ACCESSCORP (7.82%), and CHAMS (6.26%) to complete the top 5 on the volume chart.
NGX’s falling angel, AIRTELAFRI, was also the most traded stock in value terms, with 30.45% of the total value of trades on the exchange.
CHAMS, NNFM, and OANDO topped the advancers’ chart for today with a price appreciation of 10.00 per cent each, trailed by STANBIC (9.58%), LASACO (+9.38%), TRANSCOHOT (+8.91%), ABBEYBDS (+8.82%), and twenty-one others.
Twenty-two stocks depreciated due to trading patterns in the market. OMATEK was the top loser, with a price depreciation of -10.00% to close at ₦0.36. SKYAVN (-9.95%), BETAGLAS (-9.93%), REDSTAREX (-8.50%), COURTVILLE (-8.47%), and DAARCOMM (-8.00%) also dipped in price.
As the NGX launched into a fresh rally, the market breadth closed marginally positive, recording 29 gainers and 26 losers. STANBIC (+9.58%), AIRTELAFRI (+1.60%), UBA (+8.51%), TRANSCOHOT (+8.91%), and OANDO (+10.00%).
In addition, the market sector performance closed positive, as three of the five major market sectors were up, Atlass Portfolios Limited told Investors in its market update.
This upsurge was led by the Banking sector, which grew by (+1.43%), followed by the Consumer goods sector by (+0.16%), and the insurance sector by (+0.14%). The Oil & Gas and Industrial sectors were down by -0.38% and -0.06% respectively.
Overall, equities market capitalisation inched higher by ₦263.49 billion, representing a growth of +0.71%, to close at ₦37,149.66 trillion from ₦36,886.17 trillion last Friday.