NGX Equity Market Gains N69.57 Billion Following Positive Market Breadth

The NGX equity market continued to attract investors’ attention as FBNH (+5.4%), GUINNESS (+10.0%), and ZENITHBANK (+1.1%) helped drive the buying frenzy a notch higher. Thus, the all-share index gained an additional +0.27% to close at 47,286.34 bps.

Despite the growth, the ASI still fell behind the 52-week All-Time-High of 47, 329.80 bps, by 43.46 bps.

While the Week-to-Date (W-t-D), Month-to-Date (M-t-D), and Year-to-Date (Y-t-D) indicators remained moderate at +0.01%, +1.42%, and +10.70%, respectively.

Despite the growth in the ASI, the volume of trade still fell by 33.35% to 198.12 million units, which were traded in 4,294 transactions, compared to the previous session's figure of 297.25 million units traded, while the value of shares fell by 27.46% to close at NGN3.41 billion, as against the NGN4.69 billion traded previously.

As a result, the equity market gained NGN69.57 billion as its cap closed at NGN25,480.90 trillion when compared to the previous session position of NGN25,411.33 trillion. 

CHAMS was the most active stock by volume, with 16.7 million shares worth NGN3.5 million, while SEPLAT was the most active stock by value, with NGN713.71 million achieved in 784.2 thousand units traded.

FLOURMILLS, with shares valued at NGN389.4 million and TRANSCORP, with 15.4 million units traded, were also notable.

On a sector-to-sector basis, the insurance (+0.3%), oil & gas (+1.8%), banking (+0.6%), and consumer goods (+1.0%) indices all posted gains, while the industrial goods index closed flat.

As measured by market breadth, market sentiment was positive as 29 companies’ stocks gained relative to 9 stocks that lost.

The most gains were made by GUINNESS (+10.00%), which closed trading at NGN55.00/unit, TOTAL (+9.92%), which closed trading at NGN264.90/unit, UPDC (+9.90%), which closed trading at NGN1.11/unit, and RTBRISCOE (+9.90%), which closed trading at NGN0.36/unit, while VERITASKAP (-4.35%), which closed trading at NGN0.22/unit, UBN (-3.20%), which closed trading at NGN6.05/unit, IKEJAHOTEL (-2.74%), which closed trading at NGN1.42/unit, and REGALINS (-2.50%), which closed trading at NGN0.39/unit, suffered the most losses.