The Nigerian Exchange (NGX) opened July 2023 trading session bullish on Monday as investors continue to take advantage of profits in form of dividends over the past few weeks, impacting positively on the broad market’s breath at the end of the trading session.
Data from the Nigerian Exchange Group (NGX) at the close of the day’s trading indicated that the All-Share compared to 60,968.27 index points it recorded at the end of last Friday’s trading session.
Similarly, the market capitalization of equities increased by N534 billion to close at N33.731 trillion, representing 1.43% higher than the N33.198 trillion it closed at on Friday
A further analysis of the market indices reflected that the volume of shares traded totalled 1.20 billion with a value of N14.04 billion in 12,128 deals.
On the performance of the listed stocks, the market breadth closed positive as JAPAULGOLD gained 10.00% to lead the gainers’ table including ETERNA and MEYER among the top three while TRIPPLEG, which depreciated by -9.87% per share led the losers chart, which also comprised CORNEST, and NSLTECH that lost -9.09%, and –9.09% respectively.
Specifically, FCMB led the chart in terms of volume as 173.81 million units were traded. UBA (160.67 million) and ACCESS HOLDINGS (132.52 million) rounded up the top 3 traded stocks for today.
Also ACCESS HOLDINGS (N2.38 billion) led the chart followed by UBA (N2.12 billion) and FCMB (N930.70 million) to round up the top three at the end of today’s session.
Meanwhile, investment experts at Bancorp Securities Limited, a leading investment research and consulting services firm, have predicted mild bullish momentum and portfolio rebalancing in the Nigerian Exchange (NGX) this week as the profit taking activities remain unabated in the nation’s investment space.
The researchers, in the firm’s ‘Weekly Stock Recommendations July 3- July 7, 2023’ circulated to our correspondent on Monday, recalled that last week the equities market was dominated by bullish sentiments as investors awaited the half year results of listed corporate entities.
