NGX Sees N27bn Gain over Buying Interest in Banking Stocks
The Nigerian Exchange (NGX) sees N27 billion gain on Monday over buying interest in financial service sector stocks led by FBN Holdings shares mop up, GTCO among others.
Following a positive close last week, Lagos bourse resumed the new week positive, extending the rally to five successive trading days, according to analysts. The growth was driven by the investors’ buy-interest in some bellwether stocks, such as FBNH, AIRTELAFRI, GTCO, and 25 others.
Consequently, the All-Share Index rose by 51.48 basis points, representing a growth of 0.12 per cent to close at 41,814.74763.26. With rising year to date returns, stock market capitalisation gained ₦26.87 billion to close at ₦21.82 trillion.
Similarly, the market activities traded positively as the total volume and value rose by 32.21 per cent and 29.42 per cent. A total of 674.50 million units valued at ₦7.59 billion were transacted in 5,485 deals.
FBNH topped the traded stocks in terms of volume, accounting for 51.97 per cent of the total volume of trades, maintaining the position as the most trading stock.
This was followed by ETI (6.77%), UNIVINSURE (5.03%), TRANSCORP (4.83%), and GTCO (3.18%) to complete the top five on the volume chart. Also, FBNH appeared as the most traded stock in value terms, with 57.24 per cent of the total value of trades on the exchange.
PZ led in the gainers’ chart to emerge as the most profitable stock, with price appreciation of 9.32 per cent, trailed FBNH (2.45%), ETI (1.99%), FCMB (1.61%), TOTAL (1.32%), AIRTELAFRI (1.30%), FIDELITYBK (1.11%), FLOURMILL (1.03%), GTCO (0.35%), and 19 others.
On the contrary, 20 stocks declined in price led by ABBEYBDS with price depreciation of 9.47 percent to close at ₦0.86, as NGXGROUP (-6.36%), STANBIC (-4.88%), UCAP (-2.17%), ARDOVA (-1.32%), WAPCO (-1.20%), UBA (-0.60%), ACCESS (-0.53%) and ZENITHBANK (-0.40%) also dipped in price.
The market breadth closed positive, recording 28 gainers and 20 losers. # NGX Sees N27bn Gain over Buying Interest in Banking Stocks
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