NESTLE, UCAP, NB Drive NGX Equity Market Gain Of N71.49 Billion

The equity market returned to the green zone following impressive returns from NESTLE (+2.87%), UCAP (+3.31%), and NB (+3.01%).

Thus, the all-share index grew by +0.28% to close at 47,287.09 basis points, up 132.74 bps from the previous day's close of 47,154.35 basis points.

Despite the growth, the ASI index still fell short of the 52-week high position all-share index of 47,482.73 basis points (the highest resistance point) by 195.64 bps.

The Week-to-Date (W-t-D) and Year-to-Date (Y-t-D) indices stayed positive by +0.04% and +10.70%, respectively, while the Month-to-Date (M-t-D) index declined by -0.23%.

Unfortunately, the volume of trade fell by 53.45% to close at 336.31 million units traded in 5,248 transactions, compared to the previous session's figure of 754.93 million units traded, while the value of shares grew by 61.09% to close at NGN5.86 billion, compared to the previous session's figure of NGN3.64 billion traded.

Consequently, the equity market gained NGN71.49 billion following its equity market position close of NGN25,485.16 trillion as against its previous day's close of NGN25,413.67 trillion.

FBNH was the most dominant stock by volume traded with 108.62 million units traded, while GTCO continued its dominance in the value section of trade with NGN1.43 billion worth of shares traded.

NESTLE, with a share value of NGN1.02 billion, and UCAP, with a volume trade of 25.3 million units, were some of the notable mentions.

As measured by market breadth, the mood in the market was negative as 29 stocks gained relative to 12 stocks that lost.

The most gains were made by PRESCO (+10.00%), which closed trading at NGN114.95/unit, PHARMDEK (+9.89%), which closed trading at NGN2.00/unit,  LINKASSURE (+9.80%), which closed trading at NGN0.56/unit, and ROYALEX (+9.63%), which closed trading at NGN1.48/unit, while MAYBAKER (-9.91%), which closed trading at NGN4.91/unit, NEIMETH (-9.34%), which closed trading at NGN1.65/unit, NIGERINS (-8.70%), which closed trading at NGN0.21/unit, and CUTIX (7.26%), which closed trading at NGN2.30/unit, registered the most losses.