Nigerian Exchange Gains as Traders Execute Buy Orders

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The equities market halted its downward trend Thursday as stockbrokers executed large buy orders. 

The positive share price movements on mid and heavyweight counters lifted performance indicators and year-to-date return improved.

Data from the domestic bourse showed that the Nigerian Exchange  (NGX) All-share index inched upward by 82.98 basis points today, representing an increase of +0.16% to close at 52,290.75.

Market activities were up, as the total volume and total value traded for today increased by +89.55% and +39.36% respectively. In a market brief, stockbrokers at Atlass Portfolios Limited said approximately 1,270.13 million units valued at ₦7,007.55 million were transacted in 5,963 deals.

TRANSCORP was the most traded stock in terms of volume, accounting for 40.42% of the total volume of trades, followed by ACCESSCORP (28.49%), CHAMS (4.03%), ZENITHBANK (3.23%), and FIDELITYBK (3.16%) to complete the top 5 on the volume chart.

Meanwhile, ACCESSCORP was the most traded stock in value terms, with 40.85% of the total value of trades on the exchange.  MBENEFIT topped the advancers’ chart with a price appreciation of 10.00 per cent, trailed by NEM (9.64%), CWG (9.09%), ARDOVA (+8.47%), and PRESTIGE (+8.33%), and twenty-seven others.

Seventeen stocks depreciated, where LINKASSURE was the top loser, with a price depreciation of -9.43% to close at ₦0.48, as REDSTAREX (-8.73%), UPL (-8.29%), CHAMPION (-7.62%), and TRANSCORP (-6.11%) also dipped in price.

The market breadth closed positive, recording 32 gainers and 17 losers. Trading recorded from the exchange show that sector performance closed positively.

Four of the five major market sectors were up, led by the Insurance sector (+2.08%), trailed by the Oil & Gas sector (+0.78%), the Banking sector (+0.76%), and the Industrial sector (+0.02%), while Consumer goods sector dropped by -0.29%.

Overall, equities market capitalisation increased by ₦45.18 billion, representing a growth of +0.16% to close at ₦28,472.50 trillion from ₦28,427.32 trillion yesterday.

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