Nigerian Exchange Ends Positive as Stocks Rally
The Nigerian Exchange (NGX) closed on a bullish note due to fresh barging hunting seen in the local bourse. According to market data, trading activities improved after selloffs plunged the banking and consumer goods indices.
Bullish activities lifted year-to-date return to 1.88% as the equities market capitalisation appreciated by more than N29 billion on Friday. The Nigerian Exchange All-Share Index added 53.38 basis points, representing an increase of +0.10% to close at 52,214.62.
According to stockbrokers’ report, market activities surged as equities investors started taking fresh positions in growth, value stocks.
Data from the domestic bourse indicated total volume and total value traded for the day grew by +196.94% and +109.53% accordingly.
Atlass Portfolios Limited said in its market report that approximately 1,417.51 million units valued at ₦10,980.72 million were transacted in 5,527 deals.
FIDELITYBK was the most traded stock in terms of volume, accounting for 66.51% of the total volume of trades, followed by ACCESSCORP (12.00%), FBNH (5.72%), ALEX (2.54%), and MANSARD (1.74%) to complete the top 5 on the volume chart.
Also, FIDELITYBK was the most traded stock in value terms, with 50.27% of the total value of trades on the exchange.
MRS topped the advancers’ chart with a price appreciation of 9.93 percent, trailed by ACADEMY (9.87%), IKEJAHOTEL (9.86%), TRANSCORP (+9.75%), and ARDOVA (+9.09%), and twenty-six others.
Fourteen (14) stocks depreciated, where CILEASING was the top loser, with a price depreciation of -9.86% to close at ₦3.20. PRESTIGE was down by 9.76%, ROYALEX declined by 6.90%, UNILEVER lost 4.38%, and ACCESSCORP valuation dipped by 2.94%.
Trading data show that the market breadth closed positive, recording 31 gainers and 14 losers while stock market sector performance closed positive.
Stockbrokers said four of the five major market sectors were up, led by the Banking sector (+1.36%), followed by the Insurance sector (+0.65%), the Banking sector (+0.22%), and the Industrial sector (+0.02%), while the Consumer goods sector dropped by -0.13%
Overall, equities market capitalisation advanced by ₦29.06 billion, representing a rise of +0.10% to close at ₦28,431.18 trillion from ₦28,402.12 trillion the previous day. #Nigerian Exchange Ends Positive as Stocks Rally