NGX Rebound With N32bn Profit Margin

Stock Exchange Closes Trading Week With N30bn Gain

Nigerian stock Exchange (NGX) saw a gain of almost N32 billion as the local exchange started the week on a sour note, causing the market capitalization to drop by more than N57 billion.

Trading data indicates that the Nigerian Exchange’s performance improved on Tuesday as a result of increased buy-side trading activity. Following bargain shopping in several medium- and low-capitalized companies including CADBURY, MECURE, UNITYBNK, MANSARD, and others, key performance indicators increased by 0.08%.

Consequently, according to Atlass Portfolios Limited’s market update, the year-to-date return increased to +38.66%, with investors’ wealth having increased by almost ₦32 billion. Following that, trade data indicates that the Nigerian Exchange All-Share Index surged higher by 57.85 basis points to close at 71,066.55.

The market’s activity was uneven, though. Stockbrokers said that, based on statistics from the local bourse, the overall volume traded for the day increased by +37.09%, while the total value decreased by -26.07%.

6,549 trades totaling about 491.40 million units at a value of ₦3,221.80 million were completed. In terms of volume traded, UNITYBNK was the most traded stock.

15.42% of all trades in the market were made on the small local lender through trading activity. This was followed by UNIVINSURE (12.56%), MBENEFIT (9.53%), JAPAULGOLD (6.22%), and VERISTASKAP (6.12%) to complete the top 5 on the volume chart.

VDFGROUP was the most traded stock in value terms, with 15.00% of the total value of trades on the exchange. LEARNAFRCA and MECURE topped the advancers’ chart for today with a price appreciation of 10.00 per cent each.

These stocks were trailed by NNFM (9.90%), CADBURY (+9.78%), MULTIVERSE (+9.77%), VERITASKAP (+9.68%), and thirty-eight others. Eight stocks depreciated, where CHAMPION was the top loser, with a price depreciation of 10.00%, as OANDO (-3.72%), INTBREW (-2.17%), FCMB (-1.45%), JAIZBANK (-1.23%), and ELLAHLAKES (-1.06%) also dipped in price.

Today, the market breadth closed positive, recording 44 gainers and 8 losers. In addition, the market sector performance was positive.

Three of the five major market sectors surged, led by the Insurance sector which grew by (+2.13%), followed by the Banking sector (+0.46%), and the Industrial sector (+0.08%).

The Consumer goods sector dropped by -0.04% while the Oil & Gas sector closed flat. Overall, equities market capitalisation inched higher by ₦31.81 billion to close at ₦39.08 trillion from ₦39.05 trillion yesterday.

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