ETI, MTN Drive Equity Market Gain Of N33.08 Billion As ASI Increases By +0.13%

Equity trading returned to the green zone following some buy pressure as investors scrambled for the shares of ETI (+1.69%) and MTN (+1.45%).

Thus, the ASI grew by +0.13% to close at 46,904.48 basis points, which represents a 61.39 bps growth from its previous session position of 46,898.23 basis points.

However, the ASI still stayed far away from the 52-week high position all-share index of 47,482.73 basis points, by -578.25 bps.

The Week-to-Date (W-t-D) and Month-to-Date (M-t-D) indices remained negative by -0.13% and -1.03%, respectively, while the Year-to-Date (Y-t-D) index grew by 14 basis points to close at +9.80%.

The volume of units traded decreased by 6.09% to close at 201.28 million units exchanged in 4,017 transactions, as against 214.33 million units traded in the previous session, while the value of shares grew by 46.39% to close at NGN2.62 billion, as against NGN1.79 billion recorded in the previous session.

Fortunately, the equity market gained NGN33.08 billion as its equity cap closed at NGN25,278.96 trillion, much higher than its previous session close of NGN25,245.88 trillion.

ETI was the most dominant stock by volume and value, with 62 million units worth NGN742.03 million traded.

Some of the notable mentions included ZENITH BANK, with a share value of NGN361.80 million, and ACCESS CORP, with a volume trade of 29.47 million units, among others.

As measured by market breadth, the mood in the market was narrowly positive as there were 16 gainers relative to 15 losers.

The most gains were made by CORNERS (+10.00%), which closed trading at NGN0.66/unit, IKEJA HOTEL (+10.00%), which closed trading at NGN1.32/unit, ETERNA (+9.82%), which closed trading at NGN5.48/unit, and CHAMS (+5.00%), which closed trading at NGN0.21/unit, while CADBURY (-6.67%), which closed trading at NGN8.40/unit, JAPAULGOLD (-5.88%), which closed trading at NGN0.32/unit, PZ (-5.36%), which closed trading at NGN10.60/unit, and ROYALEX (-5.22%), which closed trading at NGN1.09/unit, registered the most losses.