Equities Investors’ Wealth Rises by N101bn as NGX Rallies

Equities investors gained about N101 billion in the Nigerian stock market as the local exchange opened in the green. The solid capital appreciation was registered as the open bullish amidst earnings release.

On Monday, stock market key performance indicators grew by +0.18%. The market’s positive performance was due to investors buying appetite in medium and large-scale stocks. The stocks with positive price movements include GEREGU, CHAMS, FIDELITYBK, and 28 others.

Consequently, the market index or All-Share Index increased by 183.95 basis points, representing a rise of +0.18% to close at 102,042.32. However, market activities slackened, according to data from the local bourse. Total volume and total value traded for the day were reduced by -24.69% and -30.31% respectively.

In its market update, Atlass Portfolios Limited told investors that approximately 242.43 million units valued at ₦5,125.36 million were transacted in 8,715 deals. ACCESSCORP was the most traded stock in terms of volume, accounting for 10.37% of the total volume of trades.

The financial services company was followed by VERITASKAP (10.07%), GTCO (8.82%), FBNH (7.18%), and TRANSCORP (7.11%) to complete the top 5 on the volume chart. On account of its size advantage, GTCO was the most traded stock in value terms, with 16.46% of the total value of trades on the exchange.

CHAMS, NCR, and ROYALEX topped the advancers’ chart with a price appreciation of 10.00 per cent each. These stocks were trailed by SUNUASSUR with (+9.50%) growth, TIP (+9.43%), UPDC (+9.26%), CORNERST (+8.97%), VERITASKAP (+8.96%), DAARCOMM (+8.70%) and twenty-two others.

Stockbrokers reported that twenty-three stocks depreciated, where INFINITY was the top loser, with a price depreciation of -9.90%. Also on the loser chart are JOHNHOLT (-9.88%), MAYBAKER (-9.80%), ACCESSCORP (-6.26%), TRANSCORP (-2.15%), and OANDO (-1.85%).

Despite the large daily gain, the market breadth closed negative, recording 31 gainers and 23 losers.  On the other hand, the market sector performance was positive.

Three of the five major market sectors surged, led by the Insurance sector which grew by +2.30%, followed by a 0.6% gain registered by the Consumer goods sector while the Oil & Gas sector popped up by +0.15%. The Banking and Industrial sectors declined by -0.88% and -0.07%.

Overall, the equities market capitalisation of the Nigerian Exchange advanced by ₦100.65 billion, representing a growth of +0.18%, to close at ₦55.84 trillion. #Equities Investors’ Wealth Rises by N101bn as NGX Rallies Bitcoin Nears $50k in Latest Crypto Market Rally
The post Equities Investors’ Wealth Rises by N101bn as NGX Rallies appeared first on MarketForces Africa.