Nigerian Exchange Grows by N6bn as Stocks Rally

The equities market capitalisation of the Nigerian Exchange (NGX) rose by more than N6 billion on Thursday as stocks rallied. Investors increase buying interest tempo pushed key performance indicators higher again, lifting year to date return near 33%.

Stockbrokers attribute today slight gain in the local bourse to gain medium and large cap stocks, such as SEPLAT, UBA, FBNH, UCAP and others.

Following the bargain hunting, the market index or All-Share Index climbed by 10.79 basis points today, representing a minimal rise of +0.01% to close at 99,396.23.

Data from the exchange showed that market activities inched higher. Total volume and total Value traded for increased by +91.55% and +84.84% respectively.

Atlass Portfolios Limited told investors in its market update that approximately 529.37 million units valued at ₦7,616 million were transacted in 7,616 deals.

GTCO was the most traded stock in terms of volume, accounting for 12.51% of the total volume of trades in the equities market.

The most valuable banking group on NGX was followed by UACN, which accounted for 8.78% total volume traded in the market. Other volume drivers were ACCESSCORP (7.52%), CONHALLPLC (5.98%), and UNIVINSURE (5.82%).

On account of its huge market value, GTCO was also the most traded stock in value terms, with 27.95% of the total value of trades on the exchange.

CUTIX, and SEPLAT topped the advancers’ chart for today with a price appreciation of 10.00 percent each. Other risers on the chart LASACO with 9.95% price surge, CWG gained 9.85%, UCAP was priced higher by 9.79%, AFRIPRUD share price rose by 9.35%, MBENEFIT popped up by 8.77%, and twenty-five others saw positive price upticks.

Today, sixteen stocks depreciated. DAARCOMM was the top loser, with a price depreciation of -8.93%. Other decliners are CONHALLPLC (-7.98%), MTNN (-6.89%), UNITYBNK (-3.90%), PRESCO (-1.34%), and ZENITHBANK (-0.56%).

With the trade direction, the market breadth closed positive, recording 32 gainers and 16 losers. Furthermore, the market sector performance was positive, as all the five major market sectors advanced.

The Oil & Gas sector grew by +5.71%, followed by the Banking sector which gained +1.12% while the Consumer goods sector advanced by +0.24%. Also the Insurance sector rallied by +0.11%, and the Industrial sector by popped higher by +0.01%.

Overall, the equities market capitalisation of the Nigerian Exchange increased by ₦6.19 billion to close at ₦56.23 trillion. # Nigerian Exchange Grows by N6bn as Stocks Rally Royal Exchange Rebrands to REX Insurance, as Sanwo-Olu Inaugurates Headquaters
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