Following purchasing activity across all major indices of the Nigerian Exchange (NGX), investors recorded a gain of over N304 billion as Nigerian equities rose on Thursday.
Data from the local stock exchange indicates that the performance indicators for the equity market increased by +0.55%. As a result, the year-to-date return was advanced following the brief Workers Day break.
According to stockbrokers, the strong performance of the Lagos bourse was caused by increased purchasing activity in all key market sectors, with the banking sector leading the way with a growth of +3.20% and a gain of ₦453 billion for investors in only two days.
In light of this, the market index (All-Share Index) rose by 537.15 basis points today, or +0.55%, to close at 98,762.78, according to a market report from Atlass Portfolios Limited.
Market activities ended on a mixed note, according to stockbrokers report. Total volume traded for today increased by +20.46%. The total value traded dropped by -62.86%.
Approximately 665.20 million units valued at ₦5,541.07 million were transacted in 8,446 deals, data from the Nigerian Exchange cited by stock analysts showed.
ABBEYBDS was the most traded stock in terms of volume, accounting for 54.57% of the total volume of trades. The mortgage bank was followed by ACCESSCORP (8.19%), VERITASKAP (5.83%), NB (4.69%), and TRANSCORP (4.00%) to complete the top 5 on the volume chart.
ACCESSCORP was the most traded stock in value terms, with 17.23% of the total value of trades on the exchange. PRESCO, and FLOURMILL topped the advancers’ chart with a price appreciation of 10.00 percent each.
The duo was trailed by STERLINGNG which gained +9.98%. Other gainers are: DANGSUGAR (+9.90%), FIDSON (+9.76%), JAIZBANK (+9.74%), WEMABANK (+9.52%), and twenty-two others.
Market data showed that fourteen stocks depreciated despite increase in market capitalisation. NASCON was the top loser, with a price depreciation of -9.99%. Other losers are: OMATEK (-9.21%), NEIMETH (-9.09%), CUTIX (-7.74%), CHAMS (-7.45%), and OANDO (-6.74%).
Based on the trading pattern, the market breadth closed positive, recording 29 gainers and 14 losers. In addition, the market sector performance was positive.
All the five major market sectors closed positive. The Banking sector grew by +3.20%, followed by the Oil & Gas sector which rose by +0.95%. The Insurance sector grew by +0.67%, the Consumer goods sector popped higher by +0.58%, and the Industrial sector advanced marginally by +0.01%.
Overall, the equities market capitalization of the Nigerian Exchange climbed by ₦303.79 billion, representing a growth of +0.55%, to close at ₦55.86 trillion.
