The Nigerian Exchange (NGX) increased by more over N30 billion on Tuesday, ahead of the presidential election tribunal’s decision on Thursday. Dangote Sugar and BUA Foods have prolonged bull runs on the local exchange, becoming a new bride.
Key performance indicators rose mostly as a result of bargain hunting on the consumer goods index. As a result, the NGX All-share index or market index finished 8 basis points higher at 68,334.68 index points.
Furthermore, the stock market’s year-to-date return has raced ahead of the annual inflation rate, with Nigeria’s bourse emerging as the best-performing among emerging market peers.
The year-to-date return increased to 33.33%, according to figures from the local exchange. Data from the local bourse indicated that activity had stalled. The day’s total volume and total value traded fell by -34.04% and -21.70%, respectively.
Atlass Portfolios Limited said in its market update that 557.85 million units valued at $10,210.29 million were moved in 9,818 transactions.
In terms of volume, UBA was the most traded stock, accounting for 11.38% of total transaction activity. The top five on the volume table were completed by OANDO (11.01%), FIDELITYBK (10.45%), ACCESSCORP (7.57%), and TRANSCORP (7.31%).
Meanwhile, GTCO was the most traded stock in value terms, with 14.98% of the total value of trades on the exchange. MULTIVERSE, OMATEK, BETAGLAS, and SUNUASSUR topped the advancers’ chart with a price appreciation of 10% apiece.
These stocks were trailed by OANDO (9.84%), CWG (+9.75%), ABCTRANS (+8.65%), TANTALIZER (+8.33%), and twenty-two others. Stockbrokers reported that thirty-one stocks depreciated, where NSLTECH was the top loser, with a price depreciation of -10.00%, to close at ₦0.27.
IKEJAHOTEL lost 9.68%, according to trading data from the local exchange. NEIMETH share price declined by 8.93%. TRANSCORP gave up 6.52% of its market valuation. FBNH dipped by 5.05% and FLOURMILL slumped by 4.91%.
Amidst the bargain hunting, the market breadth closed negative, recording 30 gainers and 31 losers. Also, the market sector performance closed par, as two of the five major market sectors were up,
The Consumer goods sector (+1.98%) and Industrial sector (+0.03%), while the Banking and Insurance sectors were down by -0.60% and -0.11% respectively. The Oil & Gas closed unchanged.
Overall, equities market capitalisation advanced by ₦30.39 billion, representing a growth of +0.08%, to close at ₦37,400.05 trillion from ₦37,369.66 yesterday.
