Due to favorable price movement in Airtel Africa, the Nigerian Exchange’s (NGX) equity section saw a gain of about N44 billion on Thursday. Key performance indicators therefore increased by +0.11% as the banking sector backed the robust daily gain.
Reiterating their previous day’s gains, FBNH, GTCO, AIRTELAFRI, and other companies maintained the market positive. The optimistic outlook increased market return. Despite a negative market breadth, the market’s year-to-date return increased to 39.25%, staying well ahead of the yearly inflation rate of 27.33%.
Nigerian Eurobond Declines Following CBN’s Resumption of OMO Auction Atlass Portfolios Limited reports that today’s gain in the market index, also known as the All-Share Index, was 80.69 basis points. As a result, the market index increased by +0.11% to close at 71,365.25. It was predicted that the value of the local stock exchange would reach N40 trillion in 2023.
The trading record shows an improvement in market activity. The entire volume and total value traded climbed by +49.78% and +54.95%, respectively, according to data from the Nigerian Exchange. In 6,516 agreements, around 540.09 million units valued at ₦10,243.21 million were exchanged, according to an update from Atlass Portfolios Limited to investors.
With 12.53% of the total amount of transactions, GTCO was the most traded stock in terms of volume. The financial services group was followed by UNIVINSURE (10.58%), CONHALLPLC (8.59%), TRANSCORP (7.97%), and FBNH (6.72%) to complete the top 5 on the volume chart. As expected, GTCO was also the most traded stock in value terms, with 25.53% of the total value of trades on the exchange. NNFM topped the advancers’ chart for today with a price appreciation of 10.00 per cent.
The stock was trailed by THOMASWY (9.62%), MECURE (+9.09%), CHAMPION (+7.69%), ETI (+6.25%), and nineteen others. Thirty-two stocks depreciated, according to stockbrokers. NSLTECH was the top loser, with a price depreciation of -9.72%. Also leading the loser chart are UNITYBNK (-9.68%), NEIMETH (-6.59%), NASCON (-5.44%), ETERNA (-5.15%), and ZENITHBANK (-2.71%).
Based on the trading pattern, the market breadth closed negative, recording 24 gainers and 32 losers. Stockbrokers said nonetheless, the market sector performance was negative, as four of the five major market sectors closed in red. The Insurance sector dropped by 0.83% followed by a 0.41% daily loss in the Banking sector.
The Consumer goods sector by fell by 0.32%, and the Oil & Gas sector dropped by 0.14%. The industrial sector grew by +0.07%. Overall, equities market capitalisation gained ₦44.16 billion to close at ₦39.05 trillion from ₦39.01 trillion yesterday.
December 2023: Let’s Close With A High Note
