After performing poorly for eight days, the equities market recovered. On the Nigerian Exchange (NGX), investors in stocks enjoyed significant daily gains of more than N57 billion while trading highs and lows.
Data from the local exchange indicates that the stock market performance index increased by +0.10% as a result of renewed bargain hunting. The All-Share Index, which is the market index, finished at 99,908.89, up 100.55 basis points, or +0.10%.
Market activity decreased even as interest was rekindled. The aggregate volume and value traded on Wednesday decreased by -20.11% and -30.56%, respectively. In a report, stockbrokers at Atlass Portfolios Limited stated that 9,074 transactions totaling about 322.66 million units at ₦5,820.46 million were completed.
UBA was the most traded stock in terms of volume, accounting for 17.06% of the total volume of trades. The top 5 on the volume chart was completed by ZENITHBANK (14.58%), ACCESSCORP (13.95%), UNIVINSURE (6.59%), and TRANSCORP (4.94%).
ZENITHBANK was the most traded stock in value terms, with 29.05% of the total value of trades on the exchange. With a price appreciation of 10.00 percent, IKEJAHOTEL led the advancers’ chart. The company was followed by FIDELITYBK that appreciated by 9.88%.
Also on the gainer chart are: ACADEMY (+9.77%), MORISON (+9.71%), PRESTIGE (+9.26%), CILEASING (+8.82%), and eleven others. Twenty-six stocks depreciated, according to market details obtained from the Lagos bourse. The biggest loser, with a -10.00% price depreciation, was LIVESTOCK.
On the loser chart are: FTNCOCOA (-9.72%), AFRIPRUD (-9.42%), JAPAULGOLD (-6.11%), GTCO (-2.85%), and UNILEVER (-1.41%). Despite a notable increase in market capitalization, the market’s breadth ended the day with 17 winners and 26 losers.
Meanwhile, sectoral performance closed at par, as two of the five major market sectors went downward. The industrial sector lost 2.64%, and the consumer goods sector slipped by 0.05%. The banking and insurance sectors grew by +1.10%, and +0.58%, respectively, while the Oil & Gas sector closed flat.
Overall, the equities market capitalization of the Nigerian Exchange gained ₦57 billion, representing an increase of +0.10%, to close at ₦56.51 trillion.
