Nigerian Exchange Rallies, Investors Gain N13.8 Billion
Equities investors saw about N13.8 billion in gain from bucket of stocks traded on the Nigerian Exchange (NGX) of Friday. Due to sustained rally spanning five trading session, market capitalisation has surged by about N1 trillion in the week,
Buying interest in bellwether stocks lifted market performance indicators by +1.09% month-on-month. The local bourse also closed a five-star performance week with a marginal growth of +0.02%, Atlass Portfolios Limited said in its market update.
Data showed that the market index or All-Share Index advanced by 24.35 basis points today, representing a marginal rise of +0.02% to close at 99,300.38.
Stockbrokers said in their reports that market activities inched high with the buying momentum on banking index, industrial stocks among others. Total volume and total value traded increased by +40.13% and +57.74% respectively.
Stockbrokers told investors that approximately 434.00 million units valued at ₦8,575.28 million were transacted in 8,525 deals. ZENITHBANK was the most traded stock in terms of volume, accounting for 25.63% of the total volume of traded in the market.
Other volume drivers include: AIICO (13.63%), ACCESSCORP (10.01%), FIDELITYBK (8.34%), and GTCO (5.57%). In terms of value, ZENITHBANK was also the most traded stock, accounting for 43.60% of the total value of trades on the exchange.
UPDC topped the advancers’ chart with a price appreciation of 9.84 percent. Other gainers include: INTENEGINS with (+9.74%) growth, RTBRISCOE (+9.09%), OANDO (+8.26%), CORNERST (+7.95%), CONHALLPLC (+7.46%), and seventeen others.
Fifteen stocks depreciated, according to data from the Nigerian Exchange. CILEASING was the top loser, with a price depreciation of -10.00%.
Other losers include: FTNCOCOA (-8.33%), ELLAHLAKES (-5.36%), CHAMS (-4.46%), HONYFLOUR (-3.23%), and MTNN (-0.22%). Today, the market breadth closed positive, recording 23 gainers and 15 losers. Also, the market sector’s performance was positive.
Two out of the five major market sectors grew. The Insurance sector grew by +2.26% and the Consumer goods sector rose by 0.03%. The Banking sector was down by -0.06%, while the Industrial and Oil & Gas sectors closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦13.77 billion to close at ₦56.17 trillion. #Investors See N13.8bn Gain as Nigerian Stocks Rally. #Nigerian Exchange Rallies, Investors Gain N13.8 Billion
Airport Concession: Aviation Professionals advise Keyamo on Existing Agreement
The post Nigerian Exchange Rallies, Investors Gain N13.8 Billion appeared first on MarketForces Africa.