Nigerian stock market daily report: Index gains 3.57% as Share prices continue to rise

Prices of shares of companies listed on the Nigerian Exchange has continued to rise on as the index gains 3.57%.

Tuesday’s equity trading on the floor of the Nigerian Exchange ended with Investors add ₦1.56 billion to their wealth.

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The bench-mark NGX All-Share Index advanced by 3.57% to close the day at yet another record 83,191.84 points, while the equities market capitalization grew by the same percentage points to close at its own record ₦45.52 trillion

Activity level

The activity level improved further on Tuesday with the volume of shares traded, value of shares traded and the no of deals done increasing by 18.46%, 61.78 and 6.61% respectively.

By the end of trading on Monday, 1.46 billion shares valued at ₦24.68 billion had exchanged hands in 17,144 deals.

Shares of Fidelity Bank Plc (NGX: FIDELITYBK), FCMB Group Plc (NGX: FCMB) and United Bank for Africa Plc (NGX: UBA) were the most traded stocks by volume with 141.74 million, 128.97 million and 117.71 million shares respectively.

Shares of United Bank for Africa Plc (NGX: UBA)), Access Holdings Plc (NGX: ACCESSCORP) and Guaranty Trust Holding Company Plc (NGX: GTCO) were the most traded by value, with their shares worth ₦3.77 billion, ₦2.52 billion and ₦2.14 billion respectively exchanging hands on Tuesday.

Top Gainers and Losers

Investor sentiment strengthened to 3.1x as 55 stocks advanced against 18 stocks that declined on Monday.

The top five gainers were;

1. Cadbury Nigeria Plc (NGX: CADBURY): It gained 10% to close at ₦16.50.
2. Mutual Benefits Assurance Plc (NGX: MBENEFIT): It gained 10% to close at ₦0.77.
3. Universal Insurance Plc (NGX: UNIVINSURE): It gained 10% to close at N0.33.
4. FBN Holdings Plc (NGX: FBNH): It gained 10% to close at ₦28.60.
5. FTN Cocoa Processors Plc (NGX: FTNCOCOA): It gained 10% to close at ₦2.20.

The top five losers on Wednesday were;

1. Totalenergies Marketing Nigeria Plc (NGX: TOTAL): It lost 10% to close at ₦346.50.
2. Daar Communications Plc (NGX: DAARCOMM): It lost 9.4% to close at ₦1.06
3. RT Briscoe Plc (NGX: RTBRISCOE): It lost 8.45% to close at ₦0.65.
4. Sunu Assurance Plc (NGX: SUNUASSUR): It lost 7.69% to close at ₦1.20.
5. Prestige Assurance Plc (NGX: PRESTIGE): It lost 7.41% to close at ₦0.50.

Four of the five indices under our watch closed positively, with only Oil and Gas Index closing in red following the drop in the share price of Total Energies.

1. Banking Index: The index gained 8.16% to close at 1,094.14 points.  Year to Date, the index has advanced by 21.95%.
2. Industrial Index: The industrial index gained 2.53% to close at 2,99.69 points. Year to Date, the index has advanced by 6.91%.
3. Consumer Goods Index: The index advanced by 3.98% to settle at 1,218.80 points. Year to Date, the index has advanced by 8.70%.
4. Oil & Gas Index: It lost 2.35% to close at 1,055.34 points. Year to Date, the index has advanced by 1.18%.
5. Insurance Index: it gained by 6.37% to close at 414.87 points. Year to Date, the index has advanced by 28.98%.

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur