NGX Edges Higher over Sustained Buying Interest
The equities segment of the Nigerian Exchange (NGX) sees an increase in valuation over sustained buying interest by value hunters in the local bourse. Heavy positioning in growth, and most relatively underpriced Nigerian companies’ shares supported the upbeat on Wednesday.
Consequently, the stock market key performance indicators improved further. Specifically, year-to-date return inched higher to 8.88%, as investors’ wealth grew by more than ₦107 billion.
Market data showed that the Nigerian Exchange All-Share Index added 197.20 basis points today, representing an increase of +0.35% to close at 55,801.14 points. Stockbrokers at Atlass Portfolios Limited told its customers via email that market activities were mixed.
Nigerian Exchange report indicates that total volume traded for the day was reduced by -4.21%, while the total value traded for today grew by +44.31%. Approximately 152.74 million units valued at ₦3,572.98 million were transacted in 3,293 deals, according to stockbrokers’ notes.
COURTVILLE was the most traded stock in terms of volume, accounting for 22.68% of the total volume of trades. The company was followed by UBA (9.83%), GTCO (8.36%), MANSARD (5.43%), and DANGCEM (4.80%) to complete the top 5 on the volume chart.
Meanwhile, DANGCEM was the most traded stock in value terms, with 58.45% of the total value of trades on the exchange. TRANSEXPR topped the advancers’ chart with a price appreciation of 9.88 per cent.
The company was trailed by CUTIX (8.50%), FTNCOCOA (7.69%), SOVRENINS (7.14%), HONYFLOUR (6.39%), and thirteen (13) others. Eighteen stocks depreciated, where MRS was the top loser, with a price depreciation of -9.98%.
ABCTRANS lost 7.89%, CHAMS declined by 7.41%, ARDOVA fell by 6.20%, and ROYALEX nosedived by 5.33% while market breadth closed par, recording 18 gainers and 18 losers.
Today, sector performance closed positive, as three of the five major market sectors were up, led by the Industrial sector (+0.84%), the Insurance sector (+0.16%), and the Banking goods sector (+0.06%).
The Oil & Gas and Consumer goods sectors dropped by -0.90% and -0.06% respectively. Overall, stock market capitalisation gained ₦107.43 billion to close at ₦30,397.87 trillion from ₦30,290.44 trillion the previous day. #NGX Edges Higher over Sustained Buying Interest
