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  • Business - Market Data
  • Updated: January 21, 2022

NGX ASI Edge Higher By +1.01% As Investors Gain Another N84.43bn

Investors in the Nigerian stock exchange went on a buying overdrive as attention on DANGCEM (+5.52%) dictated the pace of the market. Hence, due to the buying pressure, the all share-index not only closed positive with an additional +1.01% growth but also recorded another high of 45, 890.52 bps.

Spurred by not only buying opportunities, the market was also interested to make the year 2022 a record-breaking year as the apex domestic bourse achieved another milestone figure of 45,890.52 bps being the All-Time-High (ATH).

Consequently, this new all-share index figure exceeded the previous 52-week ATH figure of 45,430.14 bps by 460.38 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 Year-to-Date (Y-t-D) gains all moderated at +7.43%.

The blue-chip stocks and the growth stocks continue to attract so much attention from both institutional and retail investors to the extent where the volume of trade grew by another +245.4%, to 849.5 million units, as against its previous session figure of 252.9 million units traded. These shares’ values, which grew by +254.41%, were worth NGN31.5 billion and exchanged in 4,342 deals as against NGN8.9 billion traded previously.

Fortunately, the equity market cap gained an additional NGN84.43 billion to close at NGN24,724.96 trillion when compared to the previous session day's position of NGN24,640.53 trillion.

DANGCEM (+5.52%) was the most active stock as it generated NGN28.78 billion revenues from 102.92 million units of shares traded. This was closely followed by FBNH with 54 million units valued at NGN648 million traded.

As measured by market breadth, market sentiment was positive as 26 companies’ stocks gained relative to 9 losers.

The most gains were made by JAIZBANK (+11.67%), which closed trading at NGN0.67/unit, NNFM (+9.92%), which closed trading at NGN7.20/unit, LEARNAFRICA (+9.32%), which closed trading at NGN1.29/unit, and CADBURY (+7.95%), which closed trading at NGN9.50/unit, while DANGSUGAR (-2.74%), which closed trading at NGN17.75/unit, STANBIC (-2.70%), which closed trading at NGN36.00/unit, ARDOVA (-2.60%), which closed trading at NGN13.10/unit, and FCMB (-1.67%), which closed trading at NGN2.95/unit, suffered the most losses.

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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

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