Stocks Market Begins Weekly Trading On A Positive Note, Gaining N36.27bn

The equities segment of the Nigerian Exchange (NGX) on Monday began the week on a positive note, sustaining the last week’s trading session’s positive sentiment, as market capitalization gained N36.27billion to close at N24.22trillion.

The domestic equity market began the new trading week with a gain of 0.2 per cent to close at 44,461.63 points. With pockets of buying interest, the Nigerian Exchange, NGX, rises by more than N35 billion over a new rally in the local bourse, pushing the market index upward further after closing positive on Friday.

Domestic bourse key performance indicators rise 0.15 per cent, while year-to-date returns improve, recovering from Airtel Africa’s massive losses reported last week.

The Nigerian Exchange All-share index was up by 64.90 basis points to close at 44,461.63 points, according to trading data.

Market capitalisation spiked by N35.35 billion to close at N24.22 trillion from N24.18 trillion on Friday. However, market activities were mixed as the total volume traded for the day was down by -24.01 per cent, while the total value traded for the day expanded by 15.08 per cent.

Approximately 72.33 million units valued at N2,168.57 million were transacted in 2,887 deals, according to Atlass Portfolios Limited stockbrokers’ note.

TRANSCORP was the most traded stock in terms of volume, accounting for 15.77 per cent of the total volume of trades, followed by NGXGROUP (7.79%), GTCO (7.33%), SOVRENINS (5.72%), and FIDELITYBK (5.45%) to complete the top 5 on the volume chart.

Today’s AIRTELAFRI was the most traded stock in value terms, with 68.71% of the total value of trades on the exchange.

REDSTAREX topped the advancers’ chart with a price appreciation of 8.22 percent, trailed by BETAGLAS (5.90%), WAPIC (5.88%), WAPCO (2.73%), ARDOVA (2.19%), and three (3) others.

Eighteen stocks depreciated, topped by UNILEVER with a price depreciation of -10.00% to close at N10.98, as NEM (-9.50%), LASACO (- 4.60%), REGALINS (-4.17%), TRANSCORP (-3.67%), JAPAULGOLD (-3.57%) and OANDO (-3.12%) also dipped in price.

Citing data from the Nigerian Exchange, stockbrokers’ report shows that the market breadth closed negative, recording 8 gainers and 18 losers while the sector performance closed negative.

According to trading data, four out of the five major market sectors were down, led by the Insurance sector, which declined by (- 1.63%), followed by the Oil & Gas sector (-0.38%), Banking sector (-0.37%), and the Consumer goods sector (-0.28%).