NGX Gains N53.42bn Over Price Appreciation In 43 Stocks

The equities market of the Nigerian Exchange Limited (NGX) on the last trading day for last week, gained further by N53.42 billion due to price appreciation in 43 stocks,

At the close of trading activities on Friday, NGX rallied as indicators jumped 0.19 per cent, while the equity market capitalisation inched higher further by N53.42 billion, representing an uptrend of 0.19 per cent to close at N27.46 trillion.

Also, the Nigerian Exchange All-Share Index rose by 99.08 basis points representing a 0.19 per cent growth and closed at 50,935.03 points – a level is seen last in March 2008.

The negative real return on debt capital instruments has been driving investors positioning in the equity market. Demand and some bellwether moves to tame share volatility (Share buyback by Airtel and Dangote Cement) are also upside to the recent trend.

Gains in Airtel Africa Plc, Dangote, BUA Cement and MTN Nigeria Communication- the market movers – have aided the domestic bourse’s recent ballooning performance.

In the three days trading sessions this week, equity treasury hinters’ buying interest in bellwethers has been strong as investors’ position in value, and growth stocks.

Meanwhile, the market activities remain mixed, as the total volume traded rose by 0.80 per cent while the total value shed 36.08 per cent, according to trading data.

The breakdown of the last trading day of the week indicated that about 466.28 million units valued at N5.31 billion were transacted in 7,442 deals, where TRANSCORP emerged as the most traded stock in terms of volume, accounting for 10.74 per cent of the total volume of trades.

The company was followed closely by FIDELITYBK (8.06%), COURTVILLE (7.85%), ZENITH BANK (6.37%), and INTBREW (6.24%) to complete the top five on the volume chart.

SEPLAT appeared as the most traded stock in value terms, with 16.35 per cent of the total value of trades on the exchange. CAVERTON topped the advancers’ list with a price appreciation of 10.00 per cent.

CAVERTON was trailed closely by INTBREW (9.76%), OANDO (5.90%), FLOURMILL (4.23%), WEMABANK (3.02%), ETI (2.40%), UCAP (1.89%), ZENITHBANK (1.88%), WAPCO (1.85%), NB (1.38%), SEPLAT (0.87%), NGXGROUP (0.21%) and thirty-one (31) others.

Conversely, thirteen (13) stocks depreciated, topped by CWG with a price depreciation of 6.25 per cent to close at N0.9.

STANBIC lost 6.19 per cent of its market valuation, HONYFLOUR dipped by 2.17 per cent, VITAFOAM dragged downward by 0.83 per cent and AFRIPRUD shed 0.83 per cent. ACCESSCORP fell 0.52 per cent, and GTCO declined 1.88 per cent.

Overall, the market breadth was largely positive, recording 43 gainers and 13 losers while sectoral performance was positive.

All the five sectors closed bullishly compared to the previous session, led by the Consumer Goods (1.43%), Banking (1.34%), Insurance (0.98%), Oil & Gas (0.79%) and Industrial Goods (0.13%), respectively.