After a negative price movement brought market capitalization lower on Monday, equity investors on the Nigerian Exchange (NGX) earned a daily gain of more than N158 billion on the first rally of the new week.
Yesterday, the local exchange lost N38 billion due to selling rallies as inflation fears pulled down investor emotions, lowering year-to-date return, but far ahead of an annual inflation rate.
The Nigerian Exchange (NGX) trading data revealed that favorable actions increased market performance indicators by +0.43%. Atlass Portfolios Limited stated in its market report that the favorable performance was attributable to increasing purchasing activity across many main market sectors, headed by the Banking sector, which expanded by +2.75%.
According to data from the local market, the year-to-date return has now increased to 31.37% vs an inflation rate of 26.72% as of September 2023. According to statistics from the home bourse, the market index, or the Nigerian Exchange All-Share Index, gained by 288.19 basis points, or +0.43%, to close at 67,326.12.
According to stockbrokers’ data on transactions logged on the local marketplace, stock market activity has improved today. For the day, overall volume and total value traded grew by +74.93% and +45.57%, respectively.
According to stockbrokers’ independent reports, at the end of the trading sessions, about 377.97 million units valued at $5,169 million were exchanged in 6,729 transactions.
ETRANSACT was the most traded stock in terms of volume, accounting for 11.68% of the total volume of trades. The company was followed by UBA (11.21%), ACCESSCORP (8.83%), FIDELITYBK (8.27%), and STERLINGNG (6.54%) to complete the top 5 on the volume chart.
UBA was the most traded stock in value terms, with 15.42% of the total value of trades on the exchange. JBERGER topped the advancers’ chart for today with a price appreciation of 10.00 per cent.
The construction company was trailed by CWG which gained 9.83%, CHAMPION share price rose by 9.76%, OANDO appreciated by 9.58%, THOMASWY gained 9.29% and twenty-one also rallied.
Despite the uptrend, twenty-two stocks depreciated. MULTIVERSE was the top loser, with a price depreciation of -9.49%. UNITYBNK (-9.00%), ELLAHLAKES (-8.05%), NB (-7.38%), CORNERST (-3.33%), and HONYFLOUR (-1.59%) also dipped in price.
Based on the recorded transactions, the market breadth closed positive, recording 26 gainers and 22 losers. Also, the market sector performance closed positive. It was noted that four of the five major market sectors ended in green led by the Banking sector, which grew by (+2.75%), followed by the Insurance sector by (+0.20).
The Industrial sector grew by +0.05, and the Oil & Gas sector advanced by +0.03% while the Consumer goods sector closed flat. Overall, equities market capitalisation inched higher by ₦158.34 billion, representing a growth of +0.43%, to close at ₦36.99 trillion from ₦36.83 trillion yesterday.
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