NGX hits N110trn as market market capitalisation appreciated by 1.01%

Nigerian Exchange (NGX) hit N110 trillion mark on Friday as market movers moved positively on Friday, led by Dangote Cement, MTN Nigeria, and others.

The bargain hunting in key stocks boosted the equities market performance indicators; the NGX All-share index and market capitalisation appreciated by 1.01% on Friday.

Stockbrokers said the all-week-long rally was primarily driven by investors’ upbeat confidence, displayed in their positive trading activities and sustained buying interest in midcap and blue-chip stocks.

Notable gainers included ARADEL, DANGCEM, MTNN, NESTLE, WAPCO, among others, across key market sectors.  Consequently, the market index (All-Share Index) added 1,722.13 basis points in today’s trading session, reflecting a 1.01% increase to close at 171,727.49.

Market Capitalization increased by ₦1,105.46 billion, representing a growth of 1.01%, settling at ₦110.24 trillion. Hence, the overall market posted a bullish performance on a week-on-week basis. NGX-ASI gained +3.84%, while investors’ wealth also increased by approximately ₦4.1 trillion.

Moreover, market activities were up today as the Total Volume of trades and the Total Value traded increased by +33.77% and +93.53% respectively.

Approximately 953.77 million units valued at ₦43,083.74 million were transacted across 51,005 deals. As regards volume, FIDELITYBK generated 9.75% to emerge the most traded, followed by CHAMS (7.31%), DEAPCAP (6.23%), ACCESSCORP (6.04%), and TANTALIZER with 5.13%.

On value traded, PRESCO generated 26.22% of the total value of trade, thereby making it the highest traded on the exchange.

Meanwhile, on the best performers’ chart, DEAPCAP, NAHCO, and OMATEK led by generating +10.00% each, then trailed by ZICHIS (+9.98%), AUSTINLAZ (+9.98%), ABCTRANS (+9.96%), REDSTAREX (+9.94%), SKYAVN (+9.94%), and fifty-one others.
A total of nineteen stocks depreciated. With a price depreciation of -9.74%, TIP topped the worst performers’ chart, followed by DAARCOMM (-7.32%), UCAP (-6.55%), WAPIC (-5.71%), FIRSTHOLDCO (-5.53%), and LASACO (-4.64%).

Hence, the market breadth closed on a broadly positive note as there were 59 gainers and 19 losers. Sectoral performance was positive today as four of the five major market sectors appreciated.

 The Oil & Gas sector increased by +2.47%, followed by the Insurance sector (+2.16%), the Industrial goods sector (+1.70%), and the Consumer goods sector (+0.42%). Only the Banking sector declined by -0.11%.