Equities Investors Gain N837bn, Market Cap Nears N59Trn

The Nigerian Exchange (NGX) equities market capitalisation is fast approaching N59 trillion, gained about N837 billion, due to sustained buying momentum on value, and growth stocks in the local bourse.

Notably, stocks that have shed weight are picking up from where they stock, including MTN Nigeria which fell rapidly after posting negative earnings. Much volatile FBNH maintained an uptrend while Transcorp Power Plc share scarcity continues to push its market price.

Following an improved market sentiment, the Nigerian equity market closed trading activities for today bullish. Key market performance indicators saw a significant surge despite elevated yield in the fixed income market, up by +1.45%.

In a note, Atlass Portfolios Limited said the market’s positive performance was due to investors’ increased buying appetite in some medium and large-scale stocks such as UBA, MTNN, FBNH, and others. Based on records, the market index or All-Share Index increased by 1,479.60 basis points today, representing a rise of +1.45% to close at 103,524.44.

Equities market activities ended on a mixed note, according to data from the domestic bourse. The total volume traded for the day increased by +29.50%, while the total value traded decreased by -16.76%.

According to Atlass Portfolios Limited, approximately 565.79 million units valued at ₦14,233.93 million were transacted in 11,519 deals. TRANSCORP was the most traded stock in terms of volume, accounting for 30.46% of the total volume of trades.

The conglomerate was followed by ACCESSCORP (8.67%), GTCO (6.97%), JAIZBANK (6.56%), and UBA (5.70%) to complete the top 5 on the volume chart. Due to sustained demand and higher prices, TRANSPOWER was the most traded stock in value terms, with 24.68% of the total value of trades on the exchange.

UBA topped the advancers’ chart for today with a price appreciation of 10.00 per cent, trailed by MTNN with (+9.98%) growth, JBERGER (+9.71%), ACCESSCORP (+9.51%), VERITASKAP (+9.38%), UNIVINSURE (+8.33%), and twenty-nine others.

Thirteen stocks depreciated, stockbrokers said in their separate reports. TANTALIZER was the top loser, with a price depreciation of -7.89%. Also on the loser chart are NASCON (-6.77%), MORISON (-6.62%), CILEASING (-6.45%), ELLAHLAKES (-5.78%), and DANGSUGAR (-5.23%).

Today, the market breadth closed positive, recording 35 gainers and 13 losers. Likewise, the market sector performance was positive, as three of the five major market sectors closed in the green.

The Banking index grew by +5.36% followed by the Insurance sector which gained +1.18% and the Oil & Gas sector popped by +0.12%. The Consumer goods sector was down by -0.43%. The Industrial sector closed flat.

Overall, equities market capitalisation of the Nigerian Exchange advanced by ₦836.59 billion, representing a growth of +1.45%, to close at ₦58.53 trillion. #Equities Investors Gain N837bn, Market Cap Nears N59Trn Naira to Appreciate to N1200 vs US Dollar -Goldman Sachs
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