The domestic bourse started the year on a high note, with investors benefiting from gains in ZENITH BANK (+0.60%) and BUACEMENT (+7.31%). Thus, the all-share index gained 0.73% from its’ previous session position of 41,716.22 basis points to close at 43,026.23 basis points.
Continuing with the previous year’s 52-week data, investors renewed vigour in the equities trading of the Nigerian stock market and succeeded in pushing the all share-index closer to the 52-week highest resistance point of 43,730.55. Thus, the gap narrowed to only 704.32 bps.
Apparently, this positive closure represented not only a 0.73% gain but also a 309.79 bps growth from Friday, December 31, 2021.
As a result, all key parameters remained positive, with the Week-to-Date (W-t-D), Month-to-Date (M-t-D), and Year-to-Date (Y-t-D) all posting +0.73% overall.
However, the bullish momentum was not felt all around as the total volume traded decreased by 39.81% to 216.7 million units, as against its previous session position of 360.0 million units traded. These shares’ whose value declined by 16.7%, were worth NGN1.5 billion and exchanged in 4,080 deals as against NGN1.8 billion traded on Friday, December 31, 2021.
Furthermore, the equity market capitalization closed at NGN23.184 trillion, signaling a fresh start for 2022.
Despite the negative market exposure, CHAMS (-9.09%) was the most traded stock by volume with 29.9 million units, while ZENITH BANK (+0.60%) was the most traded stock by value with NGN278.2 million.
Other notable stocks worthy of mention are BUACEMENT, with shares of 1.8 million units worth NGN121.8 million, and FBNH, with 5.4 million units worth NGN61.5 million traded.
Finally, as measured by market breadth, market sentiment was negative, as 25 companies’ stocks lost relative to 18 companies’ stocks gained.
The most profitable stocks were ACADEMY (+10.00%), WEMA (+9.72%), CORNERST (+8.70%), and NEIMETH (+8.00%), while the most profitable stocks were ARDOVA (-10.00%), NNFM (-10.00%), VITAFOAM (-10.00%), CHAMS (-9.09%), and SUNUASSUR (-8.89%).
|NASCON ALLIED INDUSTRIES PLC||14.00||15.40||10.00|
|NEM INSURANCE PLC||4.32||4.75||9.95|
|FTN COCOA PROCESSORS PLC||0.62||0.68||9.68|
|NCR NIGERIA PLC||2.79||3.06||9.68|
|INDUSTRIAL & MEDICAL GASES NIGERIA PLC||7.30||8.00||9.59|