By Dickson Pat
Reflecting improved confidence, the Nigerian Exchange ,NGX, market capitalisation crossed N74 trillion mark yesterday as investors gained about N445 billion over increased bargain hunting.
The domestic equities market sustained its bullish momentum, closing in the green for the second consecutive day after a bear touch on Tuesday. NGX data showed that key market performance indicators advanced by 0.60%, building on the previous day’s positive sentiment.
Trading activity was upbeat, driven by heightened buying interest in both mid- and large-cap stocks, such as BETAGLASS, ETERNA, STANBIC, and 39 other gainers across major key sectors of the market. Stockbrokers said the broad-based rally highlights sustained investor confidence, bolstered by improving macroeconomic fundamentals.
The market index increased by 704.97 basis points today to close at a new all-time high of 117,861.13 points, representing a 0.60% gain. According to market report, trading activities were mixed today, as the total volume of all trades conducted on the Exchange surged by 39.67%, while the total value of trades reduced by 15.31%.
In its market update, Atlass Portfolio Limited told investors that approximately 893.97 million units valued at ₦22,029.34 million were transacted across 17,257 deals.
In terms of volume, CHAMPION led the activity chart, accounting for 37.34% of the total volume of all trades executed in the market, followed by GTCO ,7.04%, PZ ,5.24%, ZENITHBANK ,4.22%, and ACCESSCORP ,4.04%, rounding out the top five.
GTCO emerged as the most traded stock in value terms, accounting for 22.74% of the total value of all trades consummated on the exchange.
IKEJAHOTEL topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by BETAGLAS ,+9.98%, LEGENDINT ,+9.92%, UPL ,+9.85%, ETERNA ,+9.82%, LIVINGTRUST ,+9.68%, and thirty-six others.
Twenty stocks depreciated, according to records obtained from the Nigerian bourse. GUINEAINS was the top loser, with a price depreciation of -9.21%. Other decliners include HMCALL ,-5.88%, FIDSON ,-4.65%, MULTIVERSE ,-2.03%, NGXGROUP ,-1.19%, and HONYFLOUR ,-0.71%.
Given the trading direction, the market breadth closed positive, recording 42 gainers and 20 losers. Also, the sectoral performance was positive, as all five major market sectors inched higher.
The banking sector grew by 2.99%, followed by the insurance sector, which climbed by 1.53%. The consumer goods sector rose by 1.02%, the oil & gas sector edged higher by 0.24%, and the industrial sector recorded a growth of 0.16%. Overall, market capitalisation appreciated by ₦444.74 billion to settle at ₦74.36 trillion.
