As the purchasing momentum in the banking sector increased midweek, the size of the equity component of the Nigerian Exchange (NGX) increased further, shifting year-to-date results away from the negative. As a result of maintaining the market rise, key performance indicators increased, suggesting that continuing the exit trading pattern witnessed last week, a new rally may be seen during the week.
According to market statistics, the year-to-date return increased to 1.65% while investor wealth increased by 267 billion. The Nigerian Exchange All-Share Index, which measures the performance of the market, increased by 491.13 basis points today, or +0.95%, to close at 52,097.62 points.
Stockbrokers reported increased market activity in their briefings, including increases in total volume and total value traded for the day of +209.85% and 120.04%, respectively. Atlass Portfolios Limited said that 5,109 trades totaling roughly 6,476.21 million units valued at 19,471.45 million were completed.
With 76.21% of the total volume of transactions, TRANSCORP was the stock that was most actively traded. Following the conglomerate that has had significant capital growth in the top 5 on the volume list were ALEX (7.63%), ACCESSCORP (4.10%), UBA (1.87%), and FIDELITYBK (1.51%).
With 45.94% of the total value of trades on the market, TRANSCORP was also the stock that was traded the most. With price increases of 10%, LIVESTOCK and ACADEMY lead the list of advancers, followed by TOTAL (9.96%), CADBURY (9.80%), HONYFLOUR (+9.80%), TRANSCORP (+9.67%), and 34 other stocks.
Seven equities declined, market experts noticed. returning prior gains. The worst performer was FIDELITYBK, whose price declined by -6.57% to settle at $5.26. Following the tier 2 bank were FIDSON, which lost 5.56%, LINKASSURE, which dropped by 4.35%, MANSARD, which fell by 3.28%, and JAIZBANK, which lost 3.26%.
In line with the trend, the market breadth closed mostly up, with 40 gainers and 7 losers. The market sector performance, however, ended in the negative. Three of the five major market sectors were down, led by the Consumer goods sector, down by 0.13%. The index was trailed by the Oil & Gas sector which lost 0.12% while the Banking sector declined by 0.08%.
The Insurance and Industrial sectors advanced by +0.93% and +0.16% accordingly. Overall, the equities market capitalisation gained ₦267.42 billion, representing a rise of +0.95% to close at ₦28,367.34 trillion from ₦28,099.92 trillion yesterday.
