Equities Investors Wealth Rises by N259bn to N56.2 Trillion

Equities Investors Wealth Rises by N259bn to N56.2 Trillion

Equities investors wealth rose by over N259 billion to about N56.2 trillion on Thursday in the stock market. The gain drove Nigerian Exchange (NGX) equities market capitalization higher, thanks to bargain hunting in banking and oil and gas stocks.

The large daily gain also lifted stock market capital above N56 trillion level, lifting year-to-date return to 35%.  The market has been closing in positively for four consecutive trading session in the domestic bourse after bearish play in the past few weeks.

Market performance indicators rose by +0.46% over improved sentiment on bellwethers.  Driving the momentum in the Lagos bourse are SEPLAT, ETERNA, and GTCO, among other performers. Thus, the market index, also known as the All-Share Index, increased by 457.99 basis points today, or +0.46%, to close at 99,276.03.

Stockbrokers noted that market activities ended on a mixed note due to divergent views among equity investors.  The overall value traded crept up by +14.04%, but the total volume traded fell by -40.32%. Atlass Portfolios Limited told investors in its market update that approximately 309.71 million units valued at ₦5,436.18 million were transacted in 7,035 deals.

ACCESSCORP was the most traded stock in terms of volume, accounting for 16.72% of the total volume of trades. Other volume drivers include ZENITHBANK (12.67%), UNIVINSURE (6.84%), FCMB (6.75%), and FIDELITYBK (6.18%).

ZENITHBANK was the most traded stock in value terms, accounting for 24.03% of the total value of trades on the exchange on Thursday. INTENEGINS, and SEPLAT topped the advancers’ chart with a price appreciation of 10.00 percent each,

The duo were trailed by ETERNA with (+9.87%) growth, CONHALLPLC (+9.84%), JAPAULGOLD (+9.73%), NEM (+9.72%), OMATEK (+8.47%), and twenty-five others.

Twelve stocks lost value today, stockbrokers reported. Cornerstone Inusrance was the top loser, with a price depreciation of -8.81%. Other losers are: INTBREW (-8.75%), UNIVINSURE (-5.71%), STERLINGNG (-4.05%), TRANSCORP (-1.28%), and MANSARD (-0.93%).

Given the trading direction that has persisted in the week, equities market breadth closed positive, recording 32 gainers and 12 losers. A positive note was also reached in the market sector’s performance.

With an increase of +5.98%, the Oil & Gas sector led the way, as three of the five major market sectors saw slight increases. The banking sector advanced by +1.37% and the Insurance index grew by +0.43%. On the other hand, the consumer goods and industrial sectors dropped by -0.11% and -0.01%, respectively.

Overall, the equities market capitalisation of the Nigerian Exchange (NGX) gained ₦259.08 billion to close at ₦56.16 trillion. #Equities Investors Wealth Rises by N259bn to N56.2 Trillion Nigeria’s Growth Rate Projected to Increase to 4.4% in 2025- AfDB
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