Equity investors gain N65bn as Nigerian Exchange rebounds

Equity investors gained about N65 billion as the Nigerian Exchange (NGX) all-share index advanced by seven basis points, reversing negative performance experienced last week. The market index, year-to-date return, and market capitalization surged due to positive price movement recorded in the local bourse on Monday.  AIICO, DANGSUGAR, UNILEVER, WEMABANK, and 39 others drove the stock market rally. The Nigerian Exchange index climbed by 94.27 basis points, up by 0.07%, to close at 144,722.47 basis points. Market activities were mixed, as the total volume of all trades consummated on the exchange decreased by -16.12%, while the total value increased by +17.55%.
In a note, Atlass Portfolio Limited told investors that approximately 1,146.66 million units valued at ₦16,173.88 million were transacted across 38,160 deals. In terms of volume, UNIVINSURE led the activity chart, accounting for 19.35% of the total volume of trades, followed by LINKASSURE, LASACO, MBENEFIT, and VERITASKAP, rounding out the top five. GTCO emerged as the most traded stock in value terms, accounting for 6.96% of the total value of all transactions on the exchange. UPDC and AIICO topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by CORNERST, DEAPCAP, CUSTODIAN, WAPIC, INTENEGINS, and thirty-six others.
Twenty-six stocks depreciated, according to data from the Nigerian Exchange. STANBIC was the top loser, with a price depreciation of -9.99%, trailed by PZ, CHAMS, LIVESTOCK, OANDO, and ACCESSCORP. The market breadth closed positive, recording 43 gainers and 26 losers. The sectoral performance was positive. The insurance sector grew by 5.26%, followed by the industrial sector, which jumped by 1.75%, and the consumer goods sector, which gained 1.15%. The banking and oil & gas sectors reduced by -1.51% and -0.28%, respectively. Overall, the stock market gained ₦64.55 billion to settle at ₦91.56 trillion.