Bullish Trend: Equities Market Extends Gain with N212bn
The Nigerian Exchange Limited extended its bullish run on Wednesday, as investors recorded a gain of N212bn, following renewed buy interest in highly capitalised stocks across key sectors of the market.
At the close of trading, the market capitalisation increased from N76.788tn on Tuesday to N77tn, while the All-Share Index rose by 335.74 points, representing a 0.28 per cent appreciation, to close at 121,989.67 points.
This marks a one-week gain of 1.37 per cent, a four-week gain of 6.99 per cent, and a year-to-date gain of 18.52 per cent, reflecting a sustained positive sentiment in the local equities market.
Despite the overall market growth, trading activity declined. A total of 888,703,271 shares valued at N15.609bn were exchanged in 24,303 deals, representing a 12 per cent drop in volume, a 16 per cent decline in turnover, and a two per cent reduction in the number of deals compared to the previous trading day.
In terms of performance, a total of 128 listed equities participated in the trading session, out of which 59 advanced, 21 declined, and 48 closed flat.
Nigerian Enamelware Plc led the gainers’ table with a 10.00 per cent increase in share price to close at N20.35 per share. It was followed by Red Star Express Plc, which gained 10.00 per cent to close at N11.11 per share.
Ellah Lakes Plc rose by 10.00 per cent to close at N10.45, C and I Leasing Plc advanced by 10.00 per cent to N7.26, RT Briscoe Plc appreciated by 10.00 per cent to N3.85, while Chams Plc also gained 10.00 per cent to close at N2.75 per share.
On the losers’ chart, Legend Internet Technology Plc declined by 8.05 per cent to close at N8.00 per share, making it the worst-performing stock for the day. Guinea Insurance Plc shed 7.14 per cent to close at N1.04, Eterna Plc lost 4.65 per cent to close at N41.00, E-Tranzact International Plc declined by 4.44 per cent to N8.60, Regency Alliance Insurance Plc dropped by 4.35 per cent to N0.88, while International Breweries Plc fell by 4.14 per cent to close at N15.05 per share.
Japaul Gold and Ventures Plc led in terms of volume traded, with 137 million shares changing hands. Access Holdings Plc followed with 83 million shares, AIICO Insurance Plc recorded 50 million shares, Universal Insurance Plc traded 41.9 million shares, while Ellah Lakes Plc posted a total volume of 31.9 million shares.
On the value chart, Access Holdings Plc also led with trades worth N1.84 bn, followed by Guaranty Trust Holding Company Plc with N1.6 bn, Aradel Holdings Plc with N1.55 bn, Zenith Bank Plc with N1.34 bn, and Nigerian Exchange Group Plc with N1.02 bn.
The sectoral performance showed widespread gains. The Index recorded the highest increase of 2.48 per cent. It was followed by the Industrial Index, which gained 0.97 per cent, the Pension Index rose by 0.6 per cent, while the Banking Index added 0.45 per cent. The Premium Index and Top 30 Index appreciated by 0.3 per cent and 0.25 per cent respectively.
NGX extended its bullish streak on Tuesday, as investors gained N76.76bn in market capitalisation, driven by renewed buying interest in key sectors of the market.