NGX Rises by N286bn as SEPLAT, WAPCO Rally

The equities market capitalisation of the Nigerian Exchange (NGX) expanded by more than N286 billion as investors trading highs and lows in the local bourse took positions in growth and value stock.

The trading session in the equities segment ended on a positive note, with key performance indicators advancing by 0.48%. The All-Share Index surged by 472.43 basis points to close at 98,174.99, according to data from the local bourse.

Stockbrokers said the market recovered from sell pressure witnessed on Tuesday, reversing marginal loss, driven by bargain hunting in some large and mid-cap stocks. SEPLAT, WAPCO, and ACCESSCORP, among others, were major drivers of today’s price appreciation.

However, market activities inched lower on Wednesday as the total volume and total value traded dropped by 54.86% and 27.16%, respectively.

In an emailed note, Atlass Portfolios Limited told investors that approximately 521.92 million units valued at₦19,932.50 million were transacted across 9,420 deals. Tantalizer was the most traded stock in terms of volume, accounting for 16.95% of the total volume of trade in the market.

Other volume drivers include WAPCO (10.98%), ACCESSCORP (7.87%), CUTIX (7.12%), and UBA (6.53%) to complete the top 5 on the volume chart. SEPLAT emerged as the most traded stock in value terms, accounting for 40.31% of the total value of trades on the exchange.

Goldbrew topped the advancers’ chart with a price appreciation of 9.83 percent, trailed by THOMASWY which gained +9.83%. Other gainers include FTNCOCOA (+9.50%), DEAPCAP (+9.43%), NEM (+9.30%), ABCTRANS (+8.57%), and thirty-five others.

Today, twenty-one stocks depreciated, according to trading data from the Nigerian bourse. SUNUASSUR was the top loser, with a price depreciation of -9.85% due to massive share selloffs. Other decliners include HMCALL (-9.15%), PZ (-8.71%), STERLINGNG (-7.16%), ROYALEX (-6.35%), and OANDO (-3.08%).

Given the trading direction, the market breadth closed positive, recording 41 gainers and 21 losers. In addition, the market sector performance was positive, as three of the five major market sectors surged.

The oil and gas index grew by 3.21%, followed by a 160 basis point surge recorded by the insurance index, while the industrial sector advanced by 0.81%.

The consumer goods and banking sectors dropped indices by 0.17% and 0.07%, respectively. Overall, the equities market capitalisation surged by N286.39 billion to close at N59.51 trillion. #NGX Rises by N286bn as SEPLAT, WAPCO Rally Crude Oil Prices Increase Ahead of OPEC+ MeetingThe post NGX Rises by N286bn as SEPLAT, WAPCO Rally appeared first on MarketForces Africa.