NGX: Investors Trade 1.4bn Shares Worth N27.14bn as Market Cap Hits N157.150trn
By Aboki Forex —
Nigerian stocks closed higher on the day as trading volume jumped 161.79% to 1.4 billion shares, with investors gaining N100 billion in market capitalisation. A total of 1.40 billion shares worth N27.14 billion changed hands in 46,218 deals.
The NGX All-Share Index added 155.03 points, up 0.06%, to close at 242,378.13 points. Overall market capitalisation rose by N100 billion to N157.150 trillion. The gain came from price appreciation in large and medium-capitalised stocks, including Seplat Energy, Nigerian Exchange Group, Guaranty Trust Holding Company (GTCO), Access Holdings and Transnational Corporation (Transcorp).
Market breadth stayed negative. Twenty-three stocks gained against 29 losers.
Top gainers
Seplat Energy led the pack with a 10% gain to close at N14,907.80 per share. Japaul Gold & Ventures rose 9.83% to N2.57. Tantalizer appreciated 8.29% to N3.79. Secure Electronic Technology increased 7.94% to 68 kobo, while Access Holdings gained 5.66% to close at N28.00 per share.
Top losers
R.T. Briscoe fell 10% to N8.10 per share. Aradel Holdings also declined 10% to close at N1,413.00. Champion Breweries dropped 9.91% to N10.00. International Breweries lost 9.80% to N9.20, and CWG declined 9.28% to N17.60.
Volume leaders
Fortis Global Insurance topped the activity chart with 1.031 billion shares valued at N1.494 billion. Mutual Benefits Assurance traded 59.555 million shares worth N167.812 million. Access Holdings exchanged 28.570 million shares valued at N791.714 million. GTCO traded 25.736 million shares valued at N3.334 billion, while Zenith Bank transacted 14.318 million shares worth N1.779 billion.
What next
Cowry Assets Management Limited said the market could return to downward pressure as investors keep liquidating positions across the insurance and banking sectors ahead of the Dangote Refinery IPO, which is set to commence at the start of the coming week. Investors seeking to participate in the offer can subscribe through a wide range of approved financial intermediaries, including banks, stockbrokers, fintech platforms and investment applications, as well as the Nigerian Exchange Limited (NGX) Invest Portal.