Equities investors gain N1.76trn as NGX capitalization hits N78.73trn

The Nigerian Exchange market capitalisation expanded to N78.73 trillion on Thursday on the back of a rally that pushed equities investors’ wealth up by N1.76 trillion. The stock market maintained its bullish run to close today’s trading session on a positive note, despite recording mixed outcomes in key performance indicators. The market index surged by 2.01%, adding 2,457.13 basis points to close at a new all-time high of 124,446.80. Stock market capitalization increased by ₦1.76 trillion, representing a 2.28% increase to settle at ₦78.73 trillion following GTCO’s new listing. Hence, the market index and the market capitalization diverged, as Nigerian Exchange lists GTCO Plc’s public offer of 2,288,250,000 ordinary shares of 50 kobo each at ₦70.00 per share on the exchange today.
Stockbrokers said investor sentiment remained largely positive, as reflected in the market breadth, with the local bourse recording its seventh consecutive session of gains. The sustained rally was primarily driven by strong buying interest across all the major market sectors.
Market data revealed that trading activities improved as the total volume and total value of trades increased by 44.05% and 77.62% respectively. In a note, Atlass Portfolio Limited told investors that approximately 1,280.16 million units valued at ₦27,726.76 million were transacted across 27,875 deals. In terms of volume, ACCESSCORP led the activity chart, accounting for 13.62% of the total volume of trades, followed by AIICO (6.41%), JAPAULGOLD (5.79%), UBA (5.04%), and FCMB (4.95%), rounding out the top five. ACCESSCORP also emerged as the most traded stock in value terms, accounting for 14.38% of the total value of all stock transactions conducted on the exchange. FTNCOCOA, HMCALL, UBA, UPDC, CAVERTON, and CONHALLPLC topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
Other gainers include REDSTAREX (+9.99%), ABCTRANS (+9.97%), CAP (+9.96%), ELLAHLAKES (+9.95%), AIICO (+9.95%) and fifty-nine others. Ten stocks depreciated, according to trading details obtained from the Nigerian market. NEIMETH was the top loser, with a price depreciation of -9.91%. Other decliners include LEGENDINT (-9.88%), CADBURY (-6.22%), LIVESTOCK (-5.67%), VFDGROUP (-2.86%), and DANGSUGAR (- 0.19%). With the booming trade, the market breadth closed largely positive, recording 70 gainers and 10 losers. In addition, the market sectoral performance was positive. All five major market sectors under Atlass Portfolio coverage universe were up, led by the insurance sector, which grew by +3.96%, followed by the banking sector, up by +3.86%, and the consumer goods sector, which gained +1.15%. Also, the industrial sector rose by +0.25%, and the oil & gas sector saw a moderate uptick of +0.04%.