Equities Market Gains N30bn on NGX

Equities Market Gains N30bn on NGX

Equities Market Gains N30bn on NGX


The equities market of the Nigerian Exchange Ltd. (NGX) on Friday appreciated by N30 billion, following the  gains recorded by 21 companies and 17 losers.

Specifically, the market capitalisation closed for trading at N25.507 trillion, compared with N25.477 trillion on Thursday; an increase of N30 billion, representing 0.12 per cent.

Also, the NGX All-Share Index appreciated by 0.12 per cent, increasing to 47, 328.04 basis points, from 42,272.04 basis points recorded on Thursday.

On sector performances, Banking and Consumer Goods indices closed positive, growing by 0.25 per cent and 0.15 per cent respectively.

The NGX Industrial Goods dropped by 0.02 per cent while the Oil and Gas sector closed flat. The market breadth index was positive with 21 gainers against 17 losers.

Etranzact Plc led the gainers chart on Friday, closing with 9.92 per cent to close at N2.66, followed by Royal Exchange Plc that grew b 9.65 per cent to close at N1.25.

RTbriscoe increased by 9.30 per cent to close at N0.94 per share, while Niger Insurance gained 7.69 per cent to close at N0.28. Cornerstone added 7.69 per cent to close at N0.70.

On the losers chart, Cutix led with a drop of 8.47 per cent to close at N2.70, followed by NEM insurance that depreciated by five per cent to close at N3.80.

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Veritaskap down by 4.35 per cent to close at N0.22 as Wapic Insurance dropped by four per cent to close at N0.48.

In addition, UPDC shed 3.70 per cent to close on Friday at N1.04.

In terms of activity levels, total volume and value decreased by 26per cent and 29per cent respectively, as investors exchanged about 253 million units of shares worth N2.75 billion in 4266 deals.

FCMB was the most actively traded stock with about 50 million units of shares worth about N152 million, followed by Transcorp that traded stock about 36.9 million units of share worth about N45.58 million.

According to analysts at InvestmentOne research; “The equities market closed in green territory today due to the gains recorded in the Banking and Consumer Goods sectors.

“Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space.

“We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.”