Bua Foods Aids NGX ASI Landmark Achievement Of 43,854.42 Bps

The NGX equity market closed bullishly in the first week of trading for the year on account of BUAFOODS's (+9.92%) impressive outing following its glorious entry. Thus, the all-share index grew by 0.57% from its’ previous session position of 43,607.94 basis points to close at 43,854.42 basis points.

In a thing of joy and historical accomplishment, a feat that will rank the Nigerian stock market as one of the best performing stock markets in the world, yesterday’s all-share index became the highest point ever reached.

The domestic bourse set a new record, surpassing the 52-week highest resistance point of 43,730.55 basis points and making 43,854.42 basis points the new all-time record.

In achieving this historic milestone, the new all-time figure of 43,854.42 bps exceeded the old all-time figure of 43,730.55 bps by 123.87 bps and the previous session figure by 246.64 bps.

The positivity that closed trading this week influenced the Week-to-Date (W-t-D), Month-to-Date (M-t-D), and Year-to-Date (Y-t-D) gains by +2.24%, respectively.

A standing ovation must go to BUAFOODS, GTCO, AIRTELAFRIC, ARDOVA, and other top drivers for making this milestone achievement.

Taking a look at the volume and value aspects of trade yesterday, the total volume of trade increased by 126.34% to 395.2 million units, as against its previous session figure of 174.6 million units traded. These shares’ values, which increased by 490.5%, were worth NGN12.4 billion and exchanged in 3,923 deals as against NGN2.1 billion traded previously.

As a result of yesterday's buying frenzy, the equity market capitalization attracted an additional NGN130.8 billion to close at NGN23,628 trillion, as against the previous session position of NGN23,497.2 trillion.

Meanwhile, BUAFOODS' shares (+9.92%) were not surprisingly the most valuable in the NGX equity market as they posted a volume unit of 204.6 million units traded valued at NGN10.1 billion.

Another notable mention is GTCO, with 25.7 million units traded worth NGN663.7 million.

Finally, as measured by market breadth, market sentiment was positive, as 31 companies’ stocks gained relative to 9 losers.

The most gains were made by CORNERST (+10.00%), which closed trading at NGN0.55/unit, MEYER (+10.00%), which closed trading at NGN0.55/unit, BUAFOODS (+9.92%), which closed trading at NGN53.20/unit, and ARDOVA (+9.92%), which closed trading at NGN13.85/unit, while CHIPLC (-9.59%), which closed trading at NGN0.66/unit, SOVRENINS (-7.14%) which closed trading at NGN0.26/unit, UPDC (-3.28%) which closed trading at NGN01.18/unit, JBERGER (-2.46%) which closed trading at NGN21.80/unit, and REGALINS (-2.08%), which closed trading at NGN0.47/unit, suffered the most losses.