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  • Business - Market Data
  • Updated: February 13, 2024

NGX begins week with 0.18 per cent gain

NGX begins week with 0.18 per cent gain

The Nigerian Exchange (NGX) commenced the week on a positive note, with the All-Share Index (ASI) experiencing a slight appreciation of 0.18%, closing at 102,042.32 points.

This uptick represented a gain of 183.95 points from the previous Friday's closing of 101,858.37 points.

Market Capitalization and Market Breadth

Market capitalization also saw a marginal increase of 0.18%, with equities gaining N101 billion, bringing the total market capitalization to N55.836 trillion. Market breadth remained positive, with 32 gainers compared to 23 losers throughout the trading day.

Top Gainers and Losers

Tech stocks emerged as the primary gainers, with notable performances from NCR and Chams, which recorded gains of 10.00% each, while OMATEK registered a 6.25% increase.

On the downside, INFINITY, JOHNHOLT, PZ, MAYBAKER, DEAPCAP, and ABCTRANS were among the top losers, with declines ranging from -6.82% to -9.90%.

Trading Volume and Value

Traded volume saw a 24.7% decline from the previous Friday, dropping from 321.89 million units to 242.43 million units. Similarly, in terms of value, there was a 30.2% decrease from N7.35 billion to N5.13 billion.

Sectoral Analysis

Among the top gainers for the day were NCR, CHAMS, ROYALEX, SUNUASSUR, TIP, and UPDC, while the top losers included INFINITY, JOHNHOLT, PZ, MAYBAKER, DEAPCAP, and ABCTRANS.

Market Sentiment and Analysis

Trading sentiment was mainly positive for stocks worth over N1 trillion, with GEREGU, BUAFOODS, and ZENITHBANK recording price gains.

However, GTCO recorded a share price loss. Among non-SWOOT tier-1 banks, ACCESSCORP and UBA recorded price losses, while FBNH remained unchanged.

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