Bulls Take Hold On Equities Market, As Investors Gain N860Bn

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The Nigerian equities market’s trading session on Friday closed on a positive note as the bearish sentiment that characterized the previous trading sessions subsided, resulting in N860 billion gains to investors.

Following the bullish sentiment, the market capitalization grew to N35.881 trillion, representing 0.24% improved value over the preceding day’s figure of N35.795 trillion.

As expected, the positive trend was also reflected in the All-Share Index (ASI), which gained 157.09 points to settle at 65,558.91 points at the close of the day’s trading session and also  represented 0.24% improvement on the previous day’s closing value of 65,401.82 points.

In addition, the local bourse’s year-to-date return also reflected a positive trajectory, climbing to 27.92%, thereby surpassing the previously recorded 27.61%.

A further analysis of the data on the day’s trading session from the supervisory institution, the Nigerian Exchange Limited (NGX) showed that the volume of shares traded totalled 356.02 million, valued at  N4.23 billion in 6,569 deals.

The stocks’ performance indices revealed that SFSREIT led the gainers’ table with 9.97% increase in its share value while PRESTIGE led the losers’ ranking with a sharp drop of 9.43% to close at N0.48 per share.

The NGX data also showed that in terms of trading activity, TRANSCORP led with a trading volume of 76.72 million shares while DANGSUGAR led in terms of trading value, recording the highest value of N773.93 million.

A further analysis of the gainers and losers table reflected that NASCON, and FTNCOCOA followed SFSREIT, recording 9.95%, and 9.94% respectively.

Conversely, PRESTIGE, TANTALIZER, and OMATEK closed the day’s trading session as the weakest performers, recording depreciation in their stock values by 9.43%, 9.38%, and 9.09% respectively.

The exchange witnessed a 67.21% decline in the total value of transactions putting its revised value of N4.23 billion at the conclusion of today’s trading session. However, the bourse recorded  a marginal uptick of 2.21% in the volume of shares traded, which rose to 356.02 million shares, compared to the previous day’s closing figure of 348.32 million shares traded.

On trading activity at the Exchange, TRANSCORP led with 76.72 million shares traded followed by FIDELITYBK with 52.97 million shares while UNIVINSURE came third with 17.84 million shares traded.

In terms of turnover, DANGSUGAR led with a total turnover of N773.93 million followed by NASCON with transactions value of  N465.01 million while TRANSCORP also recorded N442.06 million in value traded at the close of the day’s trading session.

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