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  • Business - Market Data
  • Updated: February 02, 2022

Earnings Forecasts, Financial Reports Drives Investors Demand As NGX Gains N262.18 Billion

Earnings Forecasts, Financial Reports Drives Investors Deman

Trading on the domestic bourse continued with positive momentum as earnings forecasts, financial reports, and board room resolutions of some blue-chip companies drove investors' demand to push the all-share-index higher. Thus, the all-share-index grew higher by +1.04% to close at 47,111.21 bps.

This new ASI of 47,111.21 bps replaced the old 52-week All-Time-High (ATH) of 46,624.67 bps by 486.54 bps.

As a result, the Week-to-Date (W-t-D), Month-to-Date (M-t-D), and Year-to-Date (Y-t-D) indicators remained positive at +1.96%, +1.04%, and +10.29%, respectively.

Unfortunately, the volume of trade decreased by 21.63% to 341.52 million units, which were traded in 6,417 transactions, compared to the previous session's figure of 435,8 million units traded.

However, the value of shares grew by +7.30%, to close at NGN3.7 billion, as against the NGN3.44 billion traded previously.

Consequently, the equity market gained NGN262.18 billion as its cap closed at NGN25,386.53 trillion when compared to the previous session position of NGN25,124.35 trillion.

The most active stock by volume was TRANSCORP (+2.63%), as it generated NGN37.5 million in revenue from 32.1 million units of shares traded, while the most active stock by value was GTCO (+4.09%), as it generated NGN587.3 billion in revenue from 21.1 million units of shares traded.

ZENITHBANK (+4.99%), with 12.7 million units valued at NGN340.9 million, and SEPLAT (+10.00%), with 397.5 thousand units valued at NGN339.7 million traded, were also notable.

As measured by market breadth, market sentiment was positive as 36 companies’ stocks gained relative to 20 losers.

The most gains were made by SEPLAT (+10.00%), which closed trading at NGN869.00/unit, CONOIL  (+9.79%), which closed trading at NGN24.10/unit, ACADEMY (+9.57%), which closed trading at NGN1.03/unit, and PRESCO (+8.75%), which closed trading at NGN105.00/unit, while NCR (-9.094%), which closed trading at NGN3.00/unit, JAPAULGOLD (-7.50%), which closed trading at NGN0.37/unit, ETI (-7.20%), which closed trading at NGN11.60/unit, and UPDCREIT (-6.49%), which closed trading at NGN3.60/unit, suffered the most losses.

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