Equities investors gained N1.044 trillion as the Nigerian Exchange (NGX) boomed with heated-up bargain hunting.
The local bourse closed trading activities for today in the green, as key market performance indicators advanced by 1.56%.
Sustaining the positive momentum from the previous session, the local bourse witnessed robust buying interest across major market sectors, particularly in blue-chip and mid-cap stocks.
Notable gainers included ETI, NESTLE, MTN NIGERIAN, and OKOMUOIL, among others, contributing to the overall market uptrend. This marks the third consecutive session of gains, propelling the market index above the 108,000 mark and lifting the market capitalization to ₦68 trillion.
The All-Share Index increased by 1,662.60 basis points to close at 108,361.10. Despite the rally, equities market activities were down. Total volume and total value of all trades reduced by 16.45% and 26.59%, respectively.
In its market update, Atlass Portfolios Limited told investors that approximately 475.46 million units valued at ₦13,899.08 million were transacted across 17,575 deals.
In terms of volume, ACCESSCORP led the activity chart, accounting for 21.94% of the total volume traded on the exchange, followed by GTCO (8.02%), UBA (6.49%), STERLINGNG (5.74%), and ZENITHBANK (5.53%), rounding out the top five.
Ticker: GTCO emerged as the most traded stock in value terms, accounting for 17.45% of the total value of trades on the exchange.
ETI, NESTLE, and NNFM topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by BETAGLAS (+9.98%), AUSTINLAZ (+9.94%), ACADEMY (+9.76%), TRIPPLEG (+9.50%), INTENEGINS (+9.42%), and thirty-four others.
Twenty-four stocks depreciated, according to data from the Nigerian bourse. GUINEAINS was the top loser, with a price depreciation of -8.70%. Other decliners include VFDGROUP (-6.59%), REGALINS (-4.69%), TRANSCORP (-3.89%), LIVESTOCK (-2.07%), and CHAMPION (-1.06%).
Today, the market breadth closed largely positive, recording 42 gainers and 24 losers. Also, the market sectoral performance was positive, as four of the five major market sectors were up, led by the Oil & Gas sector, which grew by 2.97%, followed by the Consumer Goods sector, which jumped up by 1.75%.
The banking sector rose by 1.60%, and the industrial sector inched higher by 0.08%. The insurance sector recorded a loss of 1.61%. Overall, the market capitalisation of the Nigerian Exchange gained ₦1,044.95 billion, representing a growth of 1.56%, to close at ₦68.11 trillion.
Source: MarketForces Africa
