Equities Investors Gain N466bn Amidst Mixed Earnings Releases
Stocks appreciated by more than N446 billion on Friday, lifting the equities market capitalisation of the Nigerian Exchange (NGX) above N56 billion following previous downpour.
The returns of the bulls caused the local bourse to record large weekly gain amidst mixed earnings scorecard releases by listed companies as part of their regulatory requirements.
According to data from the Lagos bourse, the market performance indicators grew by +1.46% week on week as companies started releasing their performance scorecard.
The stock market uptrend was supported by increased buying interest witnessed across some major market sectors, led by the Banking sector, which grew by +9.99%, as investors gain ₦811 billion in a week.
The market index or All-Share Index increased by 824.47 basis points today, representing a rise of +0.83% to close at 99,587.25, Atlass Portfolios Limited confirmed in a note shared with clients
However, market activities ended on a mixed note. Total volume traded dropped by -32.87%, while the total value traded increased by +28.14%, stockbrokers said in their separate reports.
Data from the Nigerian Bourse showed that approximately 446.57 million units valued at ₦7,100.51 million were transacted in 9,297 deals.
ACCESSCORP was the most traded stock in terms of volume, accounting for 34.00% of the total volume of trades. Other volume drivers are: VERITASKAP (11.17%), UBA (7.37%), UNIVINSURE (6.08%), and TRANSCORP (4.89%).
Also, ACCESSCORP was also the most traded stock in value terms, with 17.23% of the total value of trades on the exchange. PRESCO topped the advancers’ chart for today with a price appreciation of 9.96 percent.
The firm stock was trailed by DANGSUGAR which grew by +9.94%. Other gainers are: ELLAHLAKES (+9.93%), JAIZBANK (+9.81%), FLOURMILL (+9.69%), NSLTECH (+9.26%), and twenty-three others.
According to information from the Nigerian bourse, twenty stocks depreciated in contrast to the bullish run. TANATALIZER and CONOIL were the top losers, with a price depreciation of -10.00% each.
Other decliners are: LINKASSURE (-9.47%), DEAPCAP (-8.47%), CAVERTON (-8.18%), NASCON (-7.82%), and JAPAULGOLD (-4.04%).
Based on the pattern observed, the market breadth closed positive, recording 29 gainers and 20 losers. In addition, the market sector performance was positive.
Four out of the five major market sectors closed positive on Friday. The Banking sector grew by +4.68%, followed by the Consumer goods sector which jumped by +0.76%. The Insurance sector gained +0.86%, and the Industrial sector surged by +0.01%. The Oil & Gas sector declined by -1.26%
Overall, the equities market capitalisation of the Nigerian Exchange gained ₦466.29 billion, representing a growth of +0.83%, to close at ₦56.32 trillion. Inflation Pressures Facing Private Sector Ease in April -PMI
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