According to trade figures, equities investors on the Nigerian Exchange (NGX) had their highest day volume of more than N1.8 trillion due to significant bargain hunting on the local exchange. This lifted market capitalisation to N48 trillion, the latest all-time high, following a record rise of N13 trillion in 2023.
In the previous two days, the market has risen by N2.7 trillion due to persistent rallies that have pushed the market index beyond the 87,000 barrier. Following today’s positive performance on the Nigerian Exchange (NGX), the market’s key performance indicators increased by +3.93%.
The local bourse reaches another record high, topping the 87,000 mark, as investor interest in all main market areas grows despite rising prices. As a result, the market index or All-Share Index rose by 3,330.21 basis points today, or +3.93%, to settle at 87,971.10 points.
Stockbrokers at Atlass Portfolios Limited said in an update that market activity increased during the session, with strong purchasing momentum that has continued unabated. According to statistics from the Nigerian equities market, the total volume and value of stocks traded for the day grew by 32.11% and 42.94%, respectively.
Citing data from the local bourse, Atlass Portfolios Limited said approximately 1,066.84 million units valued at ₦15,767.97 million were transacted in 14,505 deals.
JAIZBANK was the most traded stock in terms of volume, accounting for 13.85% of the total volume of trades. The Islamic lender was followed by AIICO (9.11%), FCMB (6.22%), STERLINGNG (5.14%), and TRANSCORP (4.50%) to complete the top 5 on the volume chart.
NASCON was the most traded stock in value terms, with 16.03% of the total value of trades on the exchange. It was noted that 11 stocks appreciated by 10.00 per cent. Other stocks that achieved a maximum daily gain of 10% are BERGER, DANGSUGAR, FLOURMILL, NASCON, NB, STERLINGNG, and TRANSCORP.
Likewise, 3 stocks appreciated by +9.96% include, UNITYBNK, WEMABANK, and BUACEMENT. JAIZBANK and CONHALLPLC share prices inched higher by +9.94%. On the list of gainers were other 60 stocks that appreciated as well.
Ten (10) stocks depreciated, according to stockbrokers notes. ROYALEX was the top loser, with a price depreciation of -8.16%. Also on the losers chart are MULTIVERSE (-6.59%), ELLAHLAKES (4.79%), OANDO (-3.60%), and CUSTODIAN (-2.04%).
Based on the trading direction, the market breadth closed largely positive, recording 76 gainers and 10 losers. In addition, the market sector performance was positive. Nigeria Eurobond Slumps after CBN Resumes OMO Auction
All the five major market sectors were up, led by the Industrial sector which grew by +9.72%, followed by a 5.80% positive movement registered by the Insurance sector. The Banking sector popped higher by +4.35%, the Consumer goods sector jumped by +2.97%, and the Oil & Gas sector gained 0.11%.
Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦1,822.35 billion, representing a growth of +3.93%, to close at ₦48.14 trillion.
