NGX: Investors record N131.01bn gain as ASI appreciates by 0.55%
The Nigerian equities market reversed the week’s losses and traded positively as the benchmark Index rose by 0.55 per cent to settle at 44,050.44 basis points.
The bullish trade followed bargain-hunting in Zenith Bank and Guaranty Trust Holding Company as the banking stocks appreciated by 8.5 per cent and 6.6 per cent.
Consequently, the Month-to-Date and Year-to-Date returns increased to +0.5 per cent and +3.1 per cent, respectively.
Also, bullish sentiment in telco heavyweights, MTN Nigeria, BUA Foods and Zenith Bank drove the market’s rebound as their respective share prices appreciated by 0.32 per cent, 0.80 per cent and 8.46 per cent.
Equities investors, therefore, earned N131.92 billion as market capitalisation closed higher at N23.99 trillion.
At the end of today’s trading session, a total of 159,437,692 shares in 3,039 deals, corresponding to a market value of NGN 2,861,032,374.73, were traded.
Compared with the previous NGX trading day (Tuesday, November 15), today’s data shows 54% improvement in volume and 141% improvement in turnover. The current market capitalization of the Nigerian Stock Exchange is NGN 24 trillion.
In the aggregate, 107 NGX listed equities participated in trading, ending with 21 gainers and 25 losers. Cornerstone Insurance Company led the gainers with 10% share price appreciation closing at NGN 0.44 per share, followed by MRS Oil Nigeria (+9.73%), Zenith Bank (+8.46%) and Guaranty Trust Holding (+6.63%).
On the losing side, Eterna came out last with an end-of-day price depreciation of 10% at NGN 5.67 per share, followed by Guinness Nigeria (-9.98%), SCOA Nigeria (-9.49%) and Sunu Assurances Nigeria (-9.38%). Fidelity Bank recorded the highest volume of 27.9 million traded shares, followed by Guaranty Trust Holding (20.8m), Zenith Bank (14m) and FBN Holdings (8.87m).
Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) moved up 238.69 (0.54%) points to close at 44,046.94, representing a 1-week gain of 1.31%, a 4-week loss of 0.61%, but an overall year-to-date gain of 3.11%. Other remarkable indices that performed were the NGX Top 50 Index (+1.08%; +3.02% 1WK; -7.86% YTD), NGX Top 30 Index (+0.57%; +1.43% 1WK; -7.71% YTD), NGX Banking Index (+4.21%; +4.53% 1WK; -4.16% YTD), NGX Pension Index (+1.76%; +2.6% 1WK; +0.59% YTD), NGX Premium Index (+0.95%; +2.84% 1WK; +2.54% YTD), and NGX Insurance Index (+0.78%; +0.84% 1WK; -22% YTD).
