Equities investments at NGX hits N40trn as bulls persists

ON Wednesday, the positive sentiment at the Nigerian Exchange Limited (NGX) continues to leave the equities market capitalisation past N40 trillion mark at the end of trading activities for the day.

The All-Share Index (ASI) gained 1.28 percent on the day, to close at 73,397.71 basis points (bps), as the Month-to-Date and Year-to-Date returns advanced to +2.9 percent and +43.2 percent, respectively.

Equities investments at the local bourse also increased by 1.28 percent as the market capitalisation rose by N507.60 billion to close at N40.16 trillion.

As measured by market breadth, market sentiment was positive as 36 tickers gained relative to 22 losers.

Notably, investors locked in more funds into stocks such as Multiverse, Transnational Corporation, Infinity Trust Mortgage Bank, eTranzact and Caverton Offshore Support Group, as they made the list for the top gainers for the day due to appreciable share price movements of 10.00 percent, 10.00 percent, 9.97 percent, 9.73 percent and 9.66 percent, respectively.

Conversely, Tantalizer and Thomas Wyatt topped the losers’ list having lost 10.0 percent and 9.9 percent, respectively.

Reflective of the positive market momentum, performance across the sub-sector gauges tracked was largely bullish. The NGX Banking, NGX Insurance, NGX Oil/Gas and NGX Industrial Goods indexes increased by 75bps, 83bps, 5bps and 11bps, respectively.

However, the Consumer Goods sector was the only laggard for the day as it declined by 23bps.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 84.62 percent.

A total of 554.64 million shares valued at N12.83 billion were exchanged in 7,910 deals. Guaranty Trust Holding Company led both the volume and value charts with 89.45 million units traded in deals worth N3.58 billion.