NGX equities investors gain N212bn as NGX market capitalization expands to N77trn

The Nigerian Exchange (NGX) expanded to approximately N77 trillion on Wednesday as equities investors gained about N212 billion as bargain hunting persisted for six days straight. Key performance indicators surged by 28 basis points as the local bourse extended its bullish momentum. Year-to-date return inched higher to 18.5% following six consecutive upswings. A number of stockbrokers explained that the sustained rally was largely driven by strong buying interest across stocks in the major market sectors, particularly the financial and industrial sectors. The market index increased by 335.74 basis points to close at a new all-time high of 121,989.67 points, representing a 0.28% gain. However, market activities went down as the total volume and total value of all trades consummated in the local bourse dropped by 11.84% and 19.88%, respectively.
In today’s market update, stockbrokers at Atlass Portfolio Limited told investors that approximately 888.70 million units valued at ₦15,609.90 million were transacted across 24,303 deals. In terms of volume, JAPAULGOLD led the activity chart, accounting for 15.48% of the total volume of all trades consummated on the exchange, followed by ACCESSCORP (9.36%), AIICO (5.64%), UNIVINSURE (4.73%), and ELLAHLAKES (3.60%), rounding out the top five. ACCESSCORP emerged as the most traded stock in value terms, accounting for 11.86% of the total value of trades on the exchange. CHAMS, CILEASING, ENAMELWA, REDSTAREX, ELLAHLAKES, and OMATEK topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include THOMASWY (+9.96%), SUNUASSUR (+9.95%), MANSARD (+9.95%), ACADEMY (+9.93%), FTNCOCOA (+9.93%), and forty-five others. Twenty-one stocks depreciated, stockbrokers said in a report. LEGENDINT was the top loser, with a price depreciation of -8.05%. Other decliners include ETERNA (-4.65%), ETRANZACT (-4.44%), INTBREW (-4.14%), FIRSTHOLDCO (-4.01%), and WEMABANK (-2.74%). At the close of the trading session, the market breadth closed positive, recording 57 gainers and 21 losers. In addition, the market sectoral performance was positive. The insurance sector grew by +2.48%, followed by the industrial sector, which advanced by +0.97%, and the banking sector, which gained +0.45%. The consumer goods and oil & gas sectors dropped by -0.13% and -0.05%, respectively. Overall, the market capitalisation climbed by ₦211.84 billion to settle at ₦76.97 trillion, also marking a 0.28% increase.