Nigerian Exchange Hits Historic High as Investors Gain N779bn

The Nigerian Exchange, NGX, hit a historic high on Wednesday as equities investors N779 billion gain lifted market capitalisation above N67 trillion. According to data from the local bourse, key market performance indicators surged by 1.17% as Dangote Cement, Transcorp Hotels, and ETERNA, among others, rallied.

Stockbrokers said positive transactions were witnessed across major market sectors, particularly the industrial and consumer goods sectors. Specifically, the market index, or All-Share Index, increased by 1,247.55 basis points today, representing a rise of 1.17% to close at 107,822.53.

However, the market activities were down today, as the total volume and total value traded stocks dropped by 3.44% and 13.00%, respectively. In its note, Atlass Portfolios Limited told investors that approximately 462.14 million units valued at ₦10,233.37 million were transacted across 15,629 deals.

In terms of volume, STERLINGNG led the activity chart, accounting for 10.80% of the total volume of trades conducted in the market, followed by ELLAHLAKES (7.51%), ZENITHBANK (5.56%), ACCESSCORP (4.27%), and AIICO (4.03%).

ZENITHBANK emerged as the most traded stock in value terms, accounting for 12.82% of the total value of all transactions conducted on the exchange. IKEJAHOTEL and VFDGROUP topped the advancers’ chart for today with a price appreciation of 10.00 percent each.

Other gainers include HONYFLOUR with (+9.99%) growth, TRANSCOHOT (+9.99%), ETERNA (+9.93%), ELLAHLAKES (+9.92%), INTENEGINS (+9.85%), and forty-three others. Sixteen stocks depreciated, according to data obtained from the local bourse. CWG was the top loser, with a price depreciation of -8.95%.

Other decliners include REGALINS (-7.89%), LASACO (-7.25%), FTNCOCOA (-4.76%), NEIMETH (-3.43%), and VERITASKAP (-0.82%). Trading details revealed that the market breadth closed positive, recording 50 gainers and 16 losers.

In addition, the market sectoral performance was positive, as four of the five major market sectors surged. The industrial sector grew by 2.11%, followed by the consumer goods sector, which gained 1.44%, the banking sector rose by 0.49%, and the oil & gas sector climbed by 0.20%. The insurance sector was down by 0.04%.

Overall, the equities market capitalisation of the Nigerian Exchange increased by ₦778.55 billion, representing a growth of 1.17%, to close at ₦67.27 trillion. #Nigerian Exchange Hits Historic High as Investors Gain N779bn Yield on Nigerian Treasury Bills Falls ahead of Rebase Data

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