EQUITY investors on the Nigerian Exchange (NGX) yesterday gained N14 billion as the market continued to rise. Today’s strong performance is the eleventh in a row that the local exchange has seen a rally.
The Nigerian stock market rose by 0.05 percent today, bringing its year-to-date return to 13.7 percent, up from 13.6 percent, thanks to price increases in NB, SEPLAT, and 26 other companies. As a result, the All-Share Index increased by 25.21 basis points, or 0.05 percent, to close at 48,568.57 points.
Market capitalization increased by 14.31 billion, or 0.05 percent, to close at 26.18 trillion, according to data from the Nigerian Exchange. Similarly, market activity was positive, with total volume and value traded both increasing by 41.52 per cent and 73.58 per cent, respectively.
According to Atlass Portfolios’ market report, around 464.73 million units worth $7.01 billion were traded in 6,468 transactions. TRANSCORP was the most actively traded stock in terms of volume, accounting for 26.74 percent of all trades.
The stock was closely followed on the volume chart by AIICO (4.43 percent), ZENITH BANK (4.20 percent), FBNH (3.98 percent), and FIDELITYBK (3.92 percent).
Meanwhile, MTNN was the most traded stock in terms of value, accounting for 38.76 percent of all deals on the exchange. With a price increase of 10.00%, ACADEMY topped the advancers’ leaderboard. According to Atlass Portfolios’ market report, around 464.73 million units worth $7.01 billion were traded in 6,468 transactions.
The ACADEMY was followed closely by NB (8.41%), SEPLAT (6.80%), TRANSCORP (4.46%), UACN (4.35%), AFRIPRUD (3.45%), PRESCO (1.54%), FLOURMILL (1.41%), UCAP (0.76%), WAPCO (0.37%), NAHCO (0.37%) and seventeen (17) others.
On the flip side, twenty-three (23) stocks depreciated, topped by MULTIVERSE with a price depreciation of 8.70 per cent to close at ₦0.21.
JAPAULGOLD (-6.25%), HONYFLOUR (-4.88%), FCMB (-3.21%), OANDO (-2.95%), ZENITHBANK (-2.94%), JBERGER (-2.81%), GTCO (-1.42%), ETI (-1.25%), UBA (-1.22%), MTNN (-0.47%) and STANBIC (-0.28%) also dipped in price.
Market breadth was positive overall, with 28 gainers and 23 losers. Four of the five sectors closed higher than the previous session, led by Oil & Gas (3.35 percent), Consumer Goods (1.10 percent), Insurance (0.88 percent), and Industrial Goods (0.034 percent).
Despite good progress in other sectors, the Banking sector fell 1.39 percent as investors sold off their holdings.
