Emmanuel OchayiThe Nigerian Exchange Limited (NGX) witnessed an uptick in its equities sector as companies such as Julius Berger, Oando, and Stanbic IBTC have emerged as the frontrunners in a surge, propelling the stock indices to rise to N158 billion.
The market capitalization of listed equities increased by 0.43 percent, soaring to N36.988 trillion from the previous day’s N36.830 trillion.
Join our WhatsApp ChannelLikewise, the All-Share Index (ASI), which gauges the performance of quoted companies, showed an appreciable rise, climbing to 67326.12 points from 67037.93 points in the prior session.
This surge was attributed to the strong gains observed in both medium and large capitalization stocks. Among the standouts were Stanbic IBTC, Julius Berger, Dangote Sugar Refinery, CAP, Zenith Bank, Accesscorp, Oando, and GTCO.
The market breadth reflected the positive sentiment, with 27 stocks gaining ground while 23 others found themselves on the losers’ chart.
Julius Berger stole the spotlight, marking a 10 percent increase, closing at N36.30 kobo. CWG followed closely with an impressive gain of 9.83 percent, reaching N9.50 kobo.
Champion Breweries appreciated by 9.76 percent, closing at N3.71 kobo, while Oando Plc soared by 9.58 percent, concluding at N9.15 kobo. Thomas Wyatts also displayed a strong performance, up by 9.29 percent to close at N3.06 kobo.
FTN Cocoa had a gain of 6.71 percent, closing at N1.75 kobo, while Stanbic IBTC achieved a 5.56 percent increase, closing at N76. CAP didn’t stay behind, recording a 5.21 percent increase and closing at N21.20 kobo.
Fidelity Bank made a leap of 4.97 percent, concluding at N8.45 kobo, while Accesscorp enjoyed a 4.95 percent increase, reaching N16.95 kobo. Omatek also joined the winners, appreciating by 4.95 percent, closing at N16.95 kobo.
On the flip side, Multiverse found itself as the biggest price loser for the day, shedding 9.49 percent to close at N2.67 kobo, with Unity Bank following closely with a loss of nine percent, closing at 91 kobo.
Lakes faced a dip of 8.05 percent, closing at N4, and Nigerian Breweries wasn’t far behind, experiencing a decline of 7.38 percent, closing at N38.90 kobo. ETranzact ended the day down by 6.67 percent, closing at N8.40 kobo.
ETranzact wasn’t the only one in the red, as Veritas Kapital dropped four percent, closing at 24 kobo. Fidson shed 3.88 percent, closing at N14.60 kobo, while Cornerstone Insurance depreciated by 3.33 percent, closing at N1.45 kobo. Learn Africa saw a decline of 3.23 percent, closing at N3, and JapaulGold lost 3.16 percent, closing at 92 kobo.
READ ALSO: NGX Surges As NASCON, Wema, 22 Stocks Boost Market Capitalization By N141bn
In terms of trading activity, investors were exceptionally active, trading 377.970 million shares valued at N5.169 billion in 6729 deals. This marked an increase compared to the previous session when 216.070 million shares worth N3.551 billion were traded in 5965 deals.
ETranzact led the market activity, with 440.694 million shares valued at N370.152 million, followed by United Bank for Africa, which traded 42.300 million shares worth N796.358 million.
AccessCorp also had a presence, trading 33.319 million shares for N560.388 million, while Fidelity Bank traded 31.200 million shares for N257.179 million. Sterling Bank closed the list of top performers, trading 24.676 million shares for N84.263 million.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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