Nigerian Exchange Grows as Equities Investors Gain N61bn
The equities market capitalisation of the Nigerian Exchange grew as investors recorded about N61 billion in capital appreciation. The local bourse extends a bullish run as the market weighs positions in line adjusted benchmark interest rate.
At the end of its policy committee meeting, the Central Bank of Nigeria (CBN) announced interest rate have been raised to 26.25%, up by 150 basis points. The bargain-hunting lifted market activities and transaction levels while key performance indicators grew by +0.11%.
According to data from the local bourse, the All-Share Index increased by 107.45 basis points, representing a rise of +0.11% to close at 98,285.33.
However, market activities slide as investors adjust their books on the expectation that there will be yield repricing in the fixed-income market. Today, total volume and total value trade reduced by -45.05% and -23.02% respectively.
In its market update, Atlass Portfolios Limited told investors that approximately 222.90 million units valued at ₦5,148.87 million were transacted in 7,228 deals.
GTCO was the most traded stock in terms of volume, accounting for 18.26% of the total volume of trades. Other volume drivers include ACCESSCORP (12.37%), UBA (10.77%), TRANSCORP (10.26%), and JAIZBANK (5.19%).
Also, GTCO was the most traded stock in value terms, accounting for 31.40% of the total value of trades on the exchange. BERGER topped the advancers’ chart with a price appreciation of 9.96 per cent.
The company was trailed by NESTLE which gained +9.76%. Other gainers are SOVRENINS (+8.11%), ROYALEX (+7.14%), TANTALIZER (+6.38%), REGALINS (+5.88%), and fourteen others. Twenty (20) stocks depreciated
INTENEGINS was the top loser, with a price depreciation of -9.70%. The tickers that recorded loss include DEAPCAP (-8.33%), STERLINGNG (-6.25%), CUSTODIAN (-5.88%), TRANSCORP (-3.88%), and ACCESSCORP (-0.29%).
At the close of business, the market breadth closed flat, recording 20 gainers and 20 losers. In addition, the market sector performance was positive, as two of the five major market sectors were up.
The Consumer goods index grew by +0.79%, the Banking sector rose by +0.16% while the Insurance sector was down by 0.38%. The Industrial and Oil & Gas sectors closed flat. Overall, equities market capitalisation rose by ₦60.92 billion, representing a growth of +0.11%, to close at ₦55.60 trillion. #Nigerian Exchange Grows as Equities Investors Gain N61bn
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