Mixed Outcome In NGX Equities Trading

Trading on the floor of the Nigerian Stock Exchange ended in a slightly bearish mood as the ASI fell by 2 basis points to close at 43,245.02 points.

Despite the (-0.02%) drop in the ASI from its previous day position of 43,255.14 basis points, traders were able to drive the volume of units sold to 243 million units valued at more than NGN3.74 billion.

Despite a marginal 11.57% recovery from the previous day's trade, the figure still fell short of the 2.4 billion units sold on Monday, November 22, 2021.

The market capitalization of over NGN22.5 trillion was fueled by late sell-offs of Stanbic shares (-3.2%).

Accordingly, the Week-to-Date, Month-to-Date, and Year-to-Date returns were unchanged at +0.11%, +2.9%, and +7.4%, respectively.

When looking closely at the parameters that constituted trading on the floor of the stock exchange, we discovered that the increase in trade volume by 11.57% to 243.19 million units, valued at NGN3.75 billion and exchanged in 3,777 deals, was influenced by ZENITH BANK (+15.38%), FCMB (+11.28%), and HONEYFLOUR (+9.5%).

NESTLE was the most traded stock by value at NGN1.06 billion, followed by ZENITH BANK stock valued at NGN908 million and GTCO stock valued at NGN344.8 million.

On a sector basis, the insurance (+2.1%), banking (+0.3%), industrial goods (+0.1%), and consumer goods (+0.1%) indices posted gains, while the oil and gas (-0.2%) index declined.

Finally, on the market breadth, market sentiment was positive as 21 companies gained relative to 17 losers.

This observation of the overall health of the NGX Equities market was buttressed at the just concluded MPC meeting of the CBN yesterday.

CHAMS (+9.5%), AIICO (+9.3%), IKEJAHOTEL (+8.70%), NGXGROUP (+7.84%), and CHIPLC (+6.90%) topped the gainers' chart, while the losers’ table was dominated by HONEYFLOUR (-9.8%), ETERNAL (-9.0%), REGALINS (-7.69%), and CORNERST (-7.14%).