Investors Gain N580.77 Billion As NGX ASI Hits Another Milestone Of 45,430.14Bps

The Nigerian stock exchange continued its positive run where it left off a day ago. Despite GTCO’s (-0.20%) loss position, investors were still bullish in their quest to make money. Hence, the all share-index closed positive with a +1.79% growth to end at 45,430.14 bps.

The massive buying trades enabled the apex domestic bourse to record another important milestone as it set up another historical record this year of 45,430.14 bps, which is now the All-Time-High (ATH).

Consequently, this new all-share index figure exceeds the previous 52-week ATH figure of 44,608.80 bps by 821.34 bps, thereby setting up a profit-making trend for most market players.

Following the above scenario, the Week-to-Date, the Month-to-Date, and the Year-to-Date (Y-t-D) gain all moderated at +6.04%.

Perhaps some of the blue-chip stocks influenced traders' increased buying power, as the volume of trade increased by 7.6%, to 252.9 million units, compared to the previous session's figure of 235.2 million units traded. These shares’ values, which grew by 368.42%, were worth NGN8.9 billion and exchanged in 2,435 deals, as against NGN1.9 billion traded previously.

Fortunately, the equity market cap gained an additional NGN580.77 billion to close at NGN24,640.53 trillion when compared to the previous session day's position of NGN24,059.76 trillion.

Following its previous session performance, GTCO’s (-0.20%) minimal loss position wasn’t strong enough to dislodge its dominance in the volume section as 25.5 million units worth NGN649.4 million of its shares were traded, while DANGCEM (-0.00%) dominated the value trade section with 24.5 million units worth NGN6.5 billion traded.

As measured by market breadth, market sentiment was slightly negative as 15 companies’ stocks gained relative to 16 losers.

The most gains were made by AIRTELAFRIC (+10.00%), which closed trading at NGN1155.50/unit, CORNERST (+6.00%), which closed trading at NGN0.53/unit, COURTVILLE (+5.26%), which closed trading at NGN0.40/unit, and UBN (+4.46%), which closed trading at NGN5.85/unit, while FTNCOCOA (-7.69%), which closed trading at NGN0.36/unit, CHIPLC (-7.25%), which closed trading at NGN0.64/unit, REGALINS (-6.67%), which closed trading at NGN0.47/unit, and NEMS (-5.13%), which closed trading at NGN3.70/unit, suffered the most losses.