Equities investors on the Nigerian Exchange (NGX) profited by more than N65 billion as a result of renewed bargain hunting for value stocks. The local market saw year-to-date returns rise as the banking, insurance, and industrial goods indices closed out today’s trading session positively.
The benchmark index rose 12 basis points Wednesday, closing at 95,895.92 points, while market capitalization increased by N65.05 billion to N54.45 trillion.
This recovery was fueled by increased momentum in OANDO (+9.90%) and purchasing interest in STANBIC (+6.74%) and SEPLAT (+1.28%), which offset selling pressures in TRANSCOHOT (-3.97%), TRANSCORP (-1.37%), and UBA (-1.32%).
According to trading data, the NGX All-Share Index rose 114.24 basis points today, representing a 0.12% increase from Tuesday’s finish of 95,895.92 points.
Trading activities in the market ended on a mixed note, Data showed that total volume traded reduced by 71.41%, while the total value traded was up by 0.50%.
Approximately 1,013.95 million units valued at ₦7,687.61 million were transacted across 8,295 deals, Atlass Portfolios Limited said in an update.
JAIZBANK was the most traded stock in terms of volume, accounting for 64.27% of the total volume of traded, followed by STERLINGNG (5.32%), INTBREW (2.80%), FCMB (2.16%), and ACCESSCORP (2.00%) to complete the top 5 on the volume chart.
JAIZBANK also emerged as the most traded stock in value terms, accounting for 19.48% of the total value of trades on the exchange. LEARNAFRCA topped the advancers’ chart for with a price appreciation of 9.94 percent.
Other gainers include OANDO (+9.90%), CUTIX (+9.85%), RTBRISCOE (+9.63%), UPL (+8.57%), TANTALIZER (+8.33%), and thirteen others.
Twenty-three stocks depreciated, according to data from the Lagos bourse. THOMASWY was the top loser, with a price depreciation of -9.71%. Other decliners include OMATEK (-6.85%), FTNCOCOA (-6.80%), JAPAULGOLD (-4.35%), CWG (-4.27%), and TRANSCORP (-1.37%).
Despite the momentum, the market breadth closed negative, recording 23 gainers and 19 losers. Sectoral performances were predominantly bullish, with the Banking (+0.44%), Oil and Gas (+0.43%), Insurance (+0.23%), and Industrial Goods (+0.02%) indices closing higher.
Their uptrend was bolstered by positive sentiments in STANBIC (+6.74%), OANDO (+9.90%), AIICO (+2.78%), and CUTIX (+9.85%). In contrast, the Consumer Goods index (-0.08%) witnessed bearish sentiment due to selloffs in INTBREW (-2.17%).
