…As Naira Gains, Exchanges At N1,526.15/$1
The Nigerian Exchange (NGX) All-Share Index grew by 0.53% to close at 120,977.20 points today, translating to a market capitalization gain of N403.432 billion for investors and lifting the total capitalization to N76.58 trillion.
The impressive performance of the local bourse is partly linked by investment experts to GTCO’s announcement on the London Stock Exchange (LSE) to raise $100 million in additional ordinary shares, as well as the gains in WEMABANK (3.56%), DANGSUGAR (5.62%), NASCON (1.37%), ACCESSCORP (1.08%), and ZENITHBANK (1.75%).
Data from the Nigerian Exchange Group (NGX) on the day’s trading indices indicated that on the sectoral front, performance was broadly positive as all indices closed in the green.
According to the NGX figures, the Insurance sector led the chart with a 2.76% gain, supported by strong performances in GUINEAINS (10.00%), INTENEGINS (9.60%), MANSARD (8.25%), MBENEFIT (8.27%), REGALINS (9.09%), and ROYALEX (9.60%).
The Banking Index followed with a 1.29% uptick, driven by advances in UBA (2.81%), WEMABANK (3.56%), and ZENITHBANK (1.75%) while the Consumer Goods Index appreciated by 0.74% as gains in CADBURY (9.90%), CHAMPION (9.59%), DANGSUGAR (5.62%), MCNICHOLS (9.71%), and UNILEVER (9.96%) outweighed a decline in HONYFLOUR (-1.92%).
Similarly, the Industrial Goods Index gained 0.34% on the back of gains in BERGER (10.00%), MEYER (9.88%), and WAPCO (2.05%), while the Oil & Gas sector closed 0.69% higher, driven by OANDO’s 6.97% gain.
A further analysis of the NGX data reflected that in the fixed income market, activity was mixed with declining yields across short, medium, and long-term tenors.
Meanwhile, the Naira appreciated in its exchange rate for the USD by 0.22%, closing at N1,526.15/$1
The data showed that in the NASD OTC market, the NSI Index gained 0.07% to 3,392 points, while market capitalization rose to N1.98 trillion due to gains in SDAIRLIQ (10%) and SDCSCSPLC (2.76%).
Overall, the market maintained its bullish momentum even though market breadth slightly weakened, falling from 4.07x to 3.60x as 54 gainers outpaced 15 losers and the up/down ratio stood at 3.46% at the end of the day’s trading sessions.
