GTCO, Oando, Transcorp Boost NGX Index, Investors Gain N403bn

Investors’ interest in GTCO, Oando, Transcorp, and other stocks that increased in value drove up the Nigerian Exchange All-Share Index, leading to over N403 billion in capital gains. Trading concluded positively for the second consecutive day on the Nigerian Exchange (NGX), with bulls taking charge following four consecutive days of losses.

NGX saw its main performance metrics rise by 0.53%, pushing the year-to-date return to 17.5%, in anticipation of the second quarter earnings rush on the Nigerian stock exchange.

The uptick in performance metrics was fuelled by ongoing interest in medium- and large-cap stocks, with notable focus on BERGER, UNILEVER, FTNCOCOA, OANDO, GTCO, and 48 other stocks, indicating sustained investor trust in the market’s upward trend.

The NGX All-Share Index grew by 637.30 basis points to close at 120,977.20 points, representing a 0.53% increase from the previous session. However, market activities were mixed today as the total volume of all trades consummated on the exchange dropped by 11.05%, while the total value of all transactions increased by 140.73%.

In its update, Atlass Portfolio Limited told investors that approximately 933.40 million units valued at ₦29,307.65 million were transacted across 24,207 deals. In terms of volume, UNIVINSURE led the activity chart, accounting for 7.23% of the total volume of trades consummated on the exchange, followed by ACCESSCORP (6.73%), CHAMS (6.42%), JAPAULGOLD (5.31%), and GTCO (4.36%), rounding out the top five.

SEPLAT emerged as the most traded stock in value terms, accounting for 46.31% of the total value of all transactions conducted on the exchange. Ticker: ACADEMY, BERGER, DEAPCAP, and GUINEAINS topped the advancers’ chart for today with a price appreciation of 10.00 percent each.

The top gainers were trailed by UNILEVER (+9.96%), FTNCOCOA (+9.95%), UPDC (+9.95%), RTBRISCOE (+9.93%), UPL (+9.93%), and forty-four others. Fifteen stocks depreciated, according to data cited by stockbrokers in the updates.

NEIMETH was the top loser, with a price depreciation of -8.49%. Other decliners include LEGENDINT (-7.98%), VFDGROUP (-3.57%), ACCESSCORP (-2.60%), HONYFLOUR (-1.92%), and AFRIPRUD (-1.81%).

Today, the equities market breadth closed largely positive, recording 53 gainers and 15 losers. Also, the market sectoral performance was positive. The insurance sector appreciated by 2.76%, followed by the banking sector, which advanced by 1.29%, and the consumer goods sector, which gained 0.74%. The oil & gas sector rose by 0.69%, and the industrial sector climbed by 0.34%.

Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦403.43 billion to settle at ₦76.58 trillion, also marking a 0.53% increase compared to the previous session.