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  • Business - Market Data
  • Updated: December 09, 2021

NGX Equity Market Rakes In Another NGN216 Billion As FBNH, MTNN Drives ASI Upward

Positive sentiments in the shares of MTNN (+4.5%) and FBNH sustained the equity market drive to push the ASI upward. As a result, the All-Share index rose by 1.0% to close at 42,435.16 basis points, up from 42,018.92 points the previous day, representing a 419 basis point increase.

Apparently, the Week-to-Date closed positive at +0.63%, while the Month-to-Date fell to -1.9%.

However, the Year-to-Date gain increased to +5.37%, as the all-share index advanced upwards towards the 52-week high of 43,730.55.

The market capitalization as a result of the positive upward movement in the all-share-index attracted an additional NGN216.87 billion to close at NGN22,142.62 trillion. This movement was largely influenced by the huge volume of trade on the stock of FBNH and investors’ attention to the MTNN public offer.

The total volume of trades increased by +1.61%, which represented another 10 million units’ addition to the previous day's figure of 639,442,224, to close at 649,766,721 units, valued at NGN7.20 billion, and exchanged in 3,757 deals.

FBNH was the most traded stock by volume and value at 441.93 million units and NGN5.04 billion, taking up 68.01% and 69.97% of the volume and value segment, respectively.

FBNH's great feat was followed by GTCO with 20.7 million units sold valued at NGN501.4 million and SEPLAT stocks valued at NGN367.1 million traded.

Sectoral performance was largely positive, as all indices closed with gains. Banking (+1.8%), oil and gas (+1.1%), consumer goods (+0.6%), insurance (+0.6%), and industrial goods (+0.1%) reflected the bullish drive of the investing public.

As measured by market breadth, market sentiment was positive as 18 companies’ stocks gained relative to 11 companies' stocks that suffered losses.

MEYER with a +7.7% gain closed trading at NGN0.28K, MANSARD (+7.31%) closed trading at NGN2.22K, DANGSUGAR (+6.67%) gain closed trading at NGN16.00, all dominated the gainers' chart.

The losers’ chart was dominated by CUTIX (-9.64%), ROYALEX (-8.1%), MBENEFIT (-7.69%), SOVRENINS (-4.17%) and NAHCO (-2.51%).

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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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