Equities Investors Gain as Nigerian Exchange Sustains Rally
Equities Investors Gain as Nigerian Exchange Sustains Rally
Equities investors gain N34 billion as Nigerian Exchange (NGX) sustains rally with increased bargain hunting in some bellwether names, thus consolidated yesterday’s gain. Today, market activities closed on a higher note with both volume and value of trades appreciating by 59.13 percent and 41.16 percent respectively.
A total of 249.68 million units of shares valued at N1.87 Bn were traded in 3,524 deals. Investor’s interest in bellwether stock such as MTNN (+1.48%), NB (+0.85%) and tier-1 banking stock – ZENITH (+0.22%) supported the all-share index.
Equities Investors Gain as Nigerian Exchange Sustains Rally
Particularly, the benchmark index rose by 17 basis points (bps) to 38,548.24pts, resulting in a moderation of year to date loss to 4.42%, while market capitalization rose to N20.092 trillion.
On a sectoral basis, with the exception of NGX Banking sector which declined by 0.50% as 4 out of 5 under Chapel Hill Denham’s coverage sector drove gains for the day.
To buttress, NGX Insurance, NGX Oil & Gas, NGX Consumer goods and NGX Industrial sectors gained 0.06%, 0.05%, 0.23% and 0.01%, respectively. In the insurance sector, gains in REGALINS (+3.77%) drove the gains.
Uptick in OANDO (+0.67%) spurred increases in the Oil & Gas sector. Meanwhile, increases in consumer goods sector mirrors buying interests in FLOURMILL (+1.06%), while gains in industrial sector reflects uptick in BERGER (+9.84%).
On today’s price list, UPL (+10.00% to N1.54), BERGER (+9.84% to N6.70), and JOHNHOLT (+9.43% to N0.58) were today’s top gaining stocks. On the other hand, CWG (-9.63% to N1.69), UBN (-6.72% to N5.55), and SOVREINS (-6.67% to N0.28) were today’s top losers.
Similar to the benchmark index, market’s activity was broadly bullish, with the total volume gaining 59.13% to 250mn, valued at N1.876bn (+41.19%). Today’s most traded stocks by volume were SOVRENINS (35.5mn units), ZENITH (27.5mn units), and FCMB (22.68mn units).
On the other hand, the top traded stocks by value were ZENITH (N632.28mn), STANBIC (N182.86mn) and WAPCO (N100.3mn). Elsewhere, the Chapel Hill Denham’s Paramount Equity Fund (PEF) declined by 6bps while the Women Investment Fund (WIF) gained 16bps.
Equities Investors Gain as Nigerian Exchange Sustains Rally
