Equity Investors reap N1.19trn in two Days

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BY BONNY AMADI

Nigerian equity investors trading on the NGX Exchange recorded a N1.19 trillion growth in the two consecutive trading sessions, Tuesday and Wednesday.

The Nigerian equities market sustained its positive momentum at the close of the midweek trading session, as the All-Share Index (ASI) advanced by 0.27% to settle at 111,902.61 points. Market capitalization also rose by N187 billion to N70.56 trillion, reflecting renewed investor confidence.

The growth was in addition to the N1.04 trillion growth posted earlier on Tuesday.

Market breadth Wednesday was broadly positive, with 39 gainers compared to 28 decliners. Leading the gainers’ chart were Learn Africa (+10.00%), NNFM (+9.98%), Honeywell Flour (+9.95%), Omatek (+9.86%), and ABC Transport (+0.26%).

On the flip side, Academy Press, Abbey Mortgage Bank, Sky Aviation, Enamelware, and Multiverse topped the losers’ list, with respective declines of 10.00%, 9.96%, 9.94%, 9.88%, and 9.55%. Sectoral performance was overwhelmingly positive, as the Banking, Insurance, Consumer Goods, Oil & Gas, Industrial Goods, and Commodities indices posted respective gains of 0.30%, 0.11%, 1.03%, 0.41%, 0.95%, and 0.29%. Trading activity remained strong, with the number of deals, volume, and value of transactions rising by 4.50%, 25.05%, and 73.41%, respectively. In total, 512.17 million shares worth N17.12 billion were exchanged across 16,711 deals.

On Tuesday, the NGX equities market extended its positive momentum, as the All-Share Index (ASI) advanced by 1.49% to close at 111,606.22 points.

Market capitalization also rose by N1.03 trillion to N70.38 trillion, reflecting renewed investor confidence. Market breadth was broadly positive, with 35 stocks gaining and 20 declining. Leading the gainers’ chart were Airtel, Omatek, Cornerstone Insurance, NAHCO, and UPL.

Conversely, McNichols, CWG, Champion, Red Star Express, and Jaiz Bank topped the losers’ list with respective declines of 9.80%, 9.50%, 7.38%, 4.62%, and 4.46%.

Sectoral performance was overwhelmingly positive, as the Banking, Insurance, Consumer Goods, Oil & Gas, Industrial Goods, and Commodities sectors posted gains of 1.55%, 2.23%, 1.17%, 0.78%, 1.96%, and 0.47%, respectively.

Trading activity showed mixed results: while the number of deals and the value of transactions declined by 18.07% and 9.35%, respectively, traded volume increased by 1.13%. In total, 409.57 million shares valued at N9.87 billion were exchanged across 15,992 deals.