GTCO Drives NGX Equity Market Gain To N28 Billion

Trading on the Nigerian stock exchange was slightly bearish as gains made by GTCO (+1.15%) were wiped out by losses recorded by SEPLAT (-5.88%) and MTN (-0.10%). Thus, the all-share index fell by -0.01% to close at 47,102.64 basis points, which represents a 6.61bps decline from the previous session's 47,109.25 basis points.

Looking at the broader picture, the ASI dipped further by 227.16 bps from its 52-week All-Time-High of 47,329.80 bps.

The Week-to-Date (W-t-D) declined by -0.21%, while the Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) indicators, however, stayed moderated at +1.03% and +10.27%.

However, the volume of trade continues to increase as it grew by 12.46% to close at 357.76 million units traded in 4,251 transactions, compared to the previous session's figure of 318.25 million units traded. The value of shares, unfortunately, fell by 21.58% to close at NGN6.48 billion, compared to the previous session's figure of NGN8.27 billion traded.

However, the equity market gained an additional NGN28 billion as its cap closed at NGN25,385.76 trillion when compared to the previous session position of NGN25,385.48 trillion. 

GTCO was the most dominant stock by value and volume, as it generated NGN3.42 billion from 130.1 million units traded.

MTNN, with shares valued at NGN776.6 million, and UCAP, with 30.3 million units traded, were also notable.

When broken down by sector, the Oil & Gas sector contracted, while the Consumer Goods (+0.2%) index, banking (+0.4%) index, insurance (+0.5%), and industrial goods (+0.1%) index all gained.

As measured by market breadth, the mood in the market was positive as 32 stocks gained, while 18 stocks lost.

The most gains were made by NNFM (+10.00%), which closed trading at NGN9.90/unit, RTBRISCOE (+10.00%), which closed trading at NGN0.55/unit, HNYFLOUR (+9.91%), which closed trading at NGN3.66/unit, and SCOA (+9.74%), which closed trading at NGN2.14/unit, while CWG (-9.76%), which closed trading at NGN1.11/unit, CHAMPION (-8.89%), which closed trading at NGN2.05/unit, LASACO (-7.08%), which closed trading at NGN1.05/unit, and SEPLAT (-5.88%), which closed trading at NGN800.00/unit, registered the most losses.