AIRTELAFRI, MTNN Drive NGX Equity Market Gain To N23.94 Billion

Trading in the domestic bourse recovered its bullish drive as foreign and domestic investors’ interest picked up in AIRTELAFRI and MTNN. Thus, the all-share-index grew by +0.09% to close at 47,109.25 basis points, which represents a 44.43bps growth from the previous session 47, 064.82 basis points.

Looking at the broader picture, the ASI dipped by 220.55 bps from its 52-week All-Time-High of 47,329.80 bps.

The Week-to-Date (W-t-D) declined by -0.20%, while the Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) indicators, however, stayed moderated at +1.04% and +10.28%.

Apparently, due to the buying pressure from investors’ the volume of trade grew by 16.06%, to close at 318.25 million units traded in 4,868 transactions, compared to the previous session's figure of 274.21 million units traded.

The value of shares also grew by 116.55% to close at NGN8.27 billion, compared to the previous session's figure of NGN3.82 billion traded.

However, the equity market gained an additional NGN23.94 billion as its cap closed at NGN25,385.48 trillion when compared to the previous session position of NGN25,361.54 trillion.

ACCESS continued its dominance from the previous session as it was the most active stock by volume, with 47.9 million units of shares, while MTNN was the most active stock by value, with NGN4.34 billion achieved, taking up 113.69% of the market share of shares traded.

NB, with shares valued at NGN800.8 million, and ZENITHBANK, with 17.3 million units traded, were also notable.

When broken down by sector, the Oil & Gas sector and the Insurance sector closed flat, while the Consumer Goods (-0.1%) indices, banking (-0.2%) index, and the industrial goods (-0.3%) index declined.

As measured by market breadth, the mood in the market was negative. 28 stocks lost, while 18 stocks gained.

The most gains were made by LEARNAFRCA (+9.94%), which closed trading at NGN1.99/unit, SCOA (+9.55%), which closed trading at NGN1.95/unit, RTBRISCOE (+8.70%), which closed trading at NGN0.50/unit, and VERITASKAP (+8.70%), which closed trading at NGN0.25/unit, while REGALINS (-5.19%), which closed trading at NGN0.37/unit, CILEASING (-4.76%), which closed trading at NGN3.60/unit, PRESTIGE (-4.44%), which closed trading at NGN0.43/unit, and CHAMS (-4.35%), which closed trading at NGN0.22/unit, suffered the most losses.