THE Nigerian Exchange (NGX) stopped loss on Tuesday as equities investors’ buying sentiment drove the market into the green. The stock market opened the week on a negative note after about N1.6 trillion gain reported last week.
As a result, market performance indicators advanced by +0.42%, stockbrokers told investors in their respective market reports, saying year-to-date return has also improved to 9.34%.
Coming from about N9 billion price depreciation on Monday, equities investors saw a total gain of ₦126.18 billion amidst a fresh rally that greeted the Nigerian bourse.
Data from the Nigerian Exchange showed that the All-Share Index increased by 231.76 basis points, representing an increase of +0.42% to close at 56,038.85.
In a market report, stockbrokers at Atlass Portfolios Limited, market activities were down, as the total volume and total value traded for today dropped by -12.72% and -70.64% respectively.
Approximately 322.49 million units valued at ₦5,824.46 million were transacted in 6,165 deals, according to data from the Lagos bourse. UBA was the most traded stock in terms of volume, accounting for 14.62% of the total volume of trades.
The Pan African lender was followed by ACCESSCORP (12.58%), GTCO (9.38%), FIDELITYBK (7.38%), and JAPAULGOLD (5.23%) to complete the top 5 on the volume chart.
AIRTELAFRI was the most traded stock in value terms, with 30.18% of the total value of trades on the exchange. ETRANSACT topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by ETERNA (9.85%), CORNERST (+9.52%), PHARMDEKO (+9.52%), FTNCOCOA (+9.23%), and twenty-three others.
Market data showed that twenty-three stocks depreciated, where JOHNHOLT was the top loser, with a price depreciation of – 9.88% to close at ₦1.55. MULTIVERSE lost 9.54%, UACN declined by 5.08%, FCMB fell by 4.35%, and TRANSCORP dipped by 0.67%.
Still, the market breadth closed positive, recording 28 gainers and 23 losers. Also, the market sector performance closed positively, as three out of the five major market sectors were up.
Oil & Gas sector which gained 1.02% led the pack followed by the Insurance sector (+0.57%), and the Consumer goods sector (+0.21%). The Banking and Industrial sectors dropped by -0.05% and -0.02% respectively.
Overall, equities market capitalisation inched higher by ₦126.18 billion, representing a growth of +0.42% to close at ₦30,513.48 trillion from ₦30,387.30 trillion yesterday.
