After two straight poor performances during the week, the equity market recovered in the middle of the week, bringing investors a gain of N95 billion. The market corrected its negative trend due to buying interest in certain banking and oil and gas names, which pushed the year-to-date return upward.
The Nigerian Exchange figures show that the year-to-date return increased to 32.91%, which was in line with the 33.95% annual inflation rate. The All-Share Index increased to 99,385.44 points, up 0.17%.
Deal-seeking in lately depreciated medium- and large-cap companies, like OANDO, UNILEVER, FBNH, and others, is credited by stockbrokers for today profits. To conclude at 99,385.44, the NGX All-Share Index increased by 167.84 basis points, or +0.17%.
However, market activities declined as the total volume and total value traded for today decreased by -23.57% and -33.15% respectively. Atlass Portfolios Limited told investors that approximately 276.36 million units valued at ₦4,120.30 million were transacted in 7,597 deals.
ACCESSCORP was the most traded stock in terms of volume, accounting for 16.44% of the total volume of trades. The top Nigerian lender was followed by AIICO (8.68%), GTCO (5.02%), FIDELITYBK (4.80%), and SKYAVN (4.35%) to complete the top 5 on the volume chart.
Likewise, ACCESSCORP was the most traded stock in value terms, with 20.87% of the total value of trades on the exchange. FTNCOCOA, OANDO, and CWG topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
The two companies were trailed by CILEASING which popped higher by +9.33%. Other gainers are VERITASKAP (+9.09%), UNILEVER (+8.18%), CONHALLPLC (+8.05%), UPDC (+7.75%), and twenty-six others. NGX data showed that thirteen stocks depreciated, stockbrokers said. NSLTECH was the top loser, with a price depreciation of -10.00%.
Other decliners are CORNERST (-8.64%), ROYALEX (-7.58%), TANTALIZER (-4.17%), UNIVINSURE (-2.78%), and SOVRENINS (-2.17%).
Hence, the market breadth closed positive, recording 34 gainers and 13 losers. Also, the market sector performance was positive, as three of the five major market sectors closed positive.
The Banking sector grew by +0.76% followed by the Consumer goods sector which gained +0.27%, and the Insurance sector popped higher by +0.08%. The Industrial and Oil & Gas sectors closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange surged by ₦94.95 billion to close at ₦56.22 trillion.
