NGX rebounds, investors gain N53bn as Dangote, GTCO rally

Buoyed by recovery in DANGCEM and GTCOwhich outweighed selloffs in OANDO, UBA, and NB the equities market ended on a positive note with a 0.09% return to close at 102,183.06 points. While the gains reduced the year-to-date (YTD) loss to 0.72% with the market capitalization adding ₦53.12bn to close at ₦62.31tn, the market remains on track for a weekly loss. Trade turnover settled higher relative to the previous session, with the value of transactions up by 76.82%. A total of 472.16m shares valued at ₦16.70bn were exchanged in 12,336 deals. GTCO led the volume and value charts with 65.05m units in deals worth ₦3.77bn.
Today’s gain on the Exchange was driven by bargain hunting in some recently depreciated medium and large-scale stocks, including DANGSUGAR, DANGCEM, GTCO, and others.
The Nigerian Exchange All-Share Index increased by 87.11 basis points today, representing a rise of +0.09% to close at 102,183.06. Stockbrokers reported that market activities inched higher as the total volume and total value traded in the local bourse increased by 8.41% and 76.82% respectively. In its note, Atlass Portfolios Limited told investors that approximately 472.16 million units valued at ₦16,695.87 million were transacted across 12,336 deals. In terms of volume, GTCO led the activity chart, accounting for 13.94% of the total volume traded in the equities market. Other volume drivers include UNIVINSURE (10.41%), FIDELITYBK (9.84%), ACCESSCORP (5.86%), and NASCON (5.71%), rounding out the top five.
GTCO also emerged as the most traded stock in value terms, accounting for 25.60% of the total value of transaction conducted on the exchange. NNFM topped the advancers’ chart with a price appreciation of 10.00 percent. Other risers included DANGSUGAR (+9.91%), TIP (+9.80%), JOHNHOLT (+9.80%), OMATEK (+9.76%), PRESTIGE (+9.35%) and nineteen others. Today, thirty-five stocks depreciated, according to data from the local bourse.  LIVESTOCK was the top loser, with a price depreciation of -10.00%. Other decliners include NEIMETH (-9.83%), HONYFLOUR (-9.26%), LINKASSURE (-9.15%), ARADEL (-7.01%), and CUTIX (-1.82%) also dipped in price. The industrial sector grew by 1.39%, followed by the Banking sector which rose by 0.22%) and the Consumer goods sector climbed by 0.20%. The Oil & Gas and Insurance sectors dropped by 2.49% and 1.27% respectively Overall, the equities market capitalisation of the Nigerian Exchange gained ₦53.11 billion to close at ₦62.31 trillion.