Equity Investors Gain N1.2 Trillion in 5-Day amid Rally

Spread the love
(Last Updated On: May 14, 2022)

Equity Investors Gain N1.2 Trillion in 5-Day amid Rally

Equity investors’ fortune expanded strongly in the just concluded week with a whopping N1.2 trillion gain recorded in the five trading sessions. The rally lifted the market indicators higher and year to date return jumped above 24%.

Market data showed that the Nigerian Exchange All-Share index inched up 4.2% at the close of the trading sessions compared to the prior week’s record on account of sustained buying interest in value, and growth stocks.

A Flood of cold money returns to the equity space following the exits of foreign investors in the market, according to the Nigerian Exchange report which indicated that foreign portfolios investment slowdown.

As the week closed, the equity index printed above 53,000 levels with year to date return of 24.3%, rising from 19.2%. With the record gain, equity market capitalisation gained advanced to ₦28.63 trillion.

In its market report, stockbrokers at Afrinvest Limited said activity level dwindled as average volume and value traded fell 32.1% and 17.7% week on week respectively to 361.9m units and ₦5.4 billion.

On Friday, trading activities with positive sentiment pushed the market index to over 53,000 points. The growth also expanded the market capitalization by ₦98 billion due to the bargain-hunting in the Oil & Gas and Banking sectors, according to Atlass portfolios.

As a result, the Nigerian All-Share Index rose by 182.45 basis points representing a 0.34 per cent growth, to close at 53,100.21. Meanwhile, the market activities were bearish, as the total volume and value trade dipped by 28.76 per cent and 37.25 per cent, respectively.

Traders said approximately 303.48 million units valued at ₦3.57 billion were transacted in 7,019 deals. TRANSCORP emerged as the most traded stock in terms of volume, accounting for 12.52 per cent of the total volume of trades.

The company was followed closely by JAIZBANK (10.67%), WAPCO (4.94%), GTCO (4.61%), and OANDO (4.29%) to complete the top five on the volume chart.

On the chart, WAPCO appeared as the most traded stock in value terms, with 13.30 per cent of the total value of trades on the exchange. NNFM topped the advancers’ list with a price appreciation of 9.94 per cent each.

The stock was trailed closely by FLOURMILL (9.22%), SEPLAT (8.33%), BUAFOODS (5.27%), ZENITHBANK (2.08%), AFRIPRUD (1.72%), UCAP (1.50%), GTCO (1.27%), DANGSUGAR (1.17%), UNILEVER (0.71%), ACCESSCORP (0.52%) and seventeen (17) others.

Market data showed that twenty-eight (28) stocks depreciated, topped by CHAMPION with a price depreciation of 9.90 per cent to close at ₦4.37. On the losers chart were: INTBREW (-9.74%), STANBIC (-5.71%), GLAXOSMITH (-5.39%), JAPAULGOLD (-3.23%), FBNH (-2.05%), PZ (-1.69%), OANDO (-1.31%), WAPCO (-1.10%), HONYFLOUR (-1.06%) and NGXGROUP (-0.21%).

Overall, the market breadth closed at par, recording 28 gainers and 28 losers while sectoral performance was negative. Three of the five sectors closed bearishly compared to the previous session, led by Insurance (-1.31%), Consumer Goods (-0.46%) and Industrial Goods (-0.07%).

The oil & Gas and Banking sectors surged by 4.84% and 1.22%, respectively. # Equity Investors Gain N1.2 Trillion in 5-Day amid Rally
The post Equity Investors Gain N1.2 Trillion in 5-Day amid Rally appeared first from online sources and was reposted by the community on MarketForces Africa.

Buying and Selling FX is is easy and Safe on Nairalaw.com Agree What Nigerian Bank you ant To meet Verify and Pay the FX into your Account and Pay The Seller Easy Safe ALL Within The Banking Premises ! You can even walk into Select Banks and Ask To Speak To The Manager Code Word Nairalaw ! If anything goes wrong and you need legal representation . We are Here To Help ! YO CAN DO ONLINE FX DEALS VIA OUR DEAL ARBITER APP FREE . THEY ARE AT YOUR OWN RISK EXCEPT YOU PAY A SMALL CHARGE UPFRONT
Facebook Comments Box

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?