DANGCEM Drives NGX Gain To N228.91 Billion

The domestic bourse reversed the previous session's loss as investors’ interest in DANGCEM (+5.45%) drove the all-share-index higher. Thus, the all-share-index grew by +0.85% to close at 47, 329.80 bps.

This ASI of 47,329.80 bps replaces the previous 52-week All-Time-High (ATH) of 47,111.21 bps.

As a result, the Week-to-Date, Month-to-Date, and Year-to-Date (Y-t-D) stayed moderated at +2.43%, +1.51%, and +10.80%.

Unfortunately, the volume of trade decreased by 20.29% to 346.70 million units, which were traded in 4,952 transactions, compared to the previous session's figure of 434.9 million units traded, while the value of shares fell by 38.75%, to close at NGN3.8 billion, as against the NGN6.3 billion traded previously.

As a result, the equity market lost NGN228.91 billion as its cap closed at NGN25,504.32 trillion when compared to the previous session position of NGN25,275.41 trillion.

The most active stock by volume was FIDELITYBNK (+0.35%), as it generated NGN160.3 million in revenue from 55.94 million units of shares traded, while the most active stock by value was GTCO (-0.90%), as it generated NGN585 billion in revenue from 21.3 million units of shares traded.

ZENITHBANK, with 12.8 million units valued at NGN337.1 million, and NB, with 6.7 million units valued at NGN320.3 million traded, were also notable.

As measured by market breadth, market sentiment was positive as 23 companies’ stocks gained relative to 19 losers.

The most gains were made by OANDO (+10.00%), which closed trading at NGN5.17/unit, ACADEMY (+9.73%), which closed trading at NGN1.24/unit, SCOA (+9.62%), which closed trading at NGN1.14/unit, and LASACO (+8.00%), which closed trading at NGN1.08/unit, while PHARMDEK (-10.00%), which closed trading at NGN1.98/unit, CHAMPION (-8.70%), which closed trading at NGN2.10/unit, IKEJAHOTEL (-6.99%), which closed trading at NGN1.33/unit, and UNITYBNK (-3.77%), which closed trading at NGN0.51/unit, suffered the most losses.