Equities investors gain N5.11trn as market cap hits N122trn
Equities investors on Monday gained N5.11 trillion as Nigerian Exchange (NGX) hit historic record high. The local bourse maintained its positive momentum, starting the week with the All-Share Index surging 4.37% to 190,281.57 points, bringing the year-to-date return to 22.28%. NGX Market capitalization soared by 4.37%, adding N5.11 trillion to reach N122.14 trillion. Market breadth […]
Equities investors on Monday gained N5.11 trillion as Nigerian Exchange (NGX) hit historic record high.
The local bourse maintained its positive momentum, starting the week with the All-Share Index surging 4.37% to 190,281.57 points, bringing the year-to-date return to 22.28%.
NGX Market capitalization soared by 4.37%, adding N5.11 trillion to reach N122.14 trillion. Market breadth was bullish at 1.9x, with 54 advancing stocks outweighing 28 declining counters.
Stockbrokers reported that ABCTRANS, ARADEL, JAIZBANK, MCNICHOLS, and OANDO led the advancers, while RTBRISCOE, DEAPCAP, CAVERTON, GUINEAINS, and TANTALIZER suffered the steepest declines.
Sectoral performance was predominantly bullish: Industrial topped gains with a 7.77% surge, followed by Oil & Gas climbing 4.73%, Banking rising 4.71%, Commodity advancing 3.15%, Insurance gaining 2.45%, and Consumer Goods increasing 1.44%.
Trading activity strengthened across metrics as share volume jumped 13.46% to 1.06 billion units, transaction value rose 19.48% to N62.99 billion, and deal count grew 28.30% to 64,237 transactions.
Last week, the Nigerian equities market capitalisation soared to N117 trillion from N110.2 trillion as investors in all five trading sessions last week.
The market began the week on Monday last week on a bullish note as investors gained N1.42trn at the end of the trading session.
On Tuesday, investors gained N1.8trn, after the trading session, while the market closed positively on Wednesday with N851bn gain.
The market also closed positively on Thursday as investors gained N283bn and on Friday, investors pocketed N2.3 trillion gains.
A total of 4.652 billion shares worth N193.326 billion in 286,751 deals were traded during the week by investors on the floor of the Exchange, in contrast to a total of 3.860 billion shares valued at N128.581 billion that exchanged hands last week in 240,463 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.782 billion shares valued at N74.063 billion traded in 104,325 deals: thus contributing 59.81% and 38.31% to the total equity turnover volume and value respectively.