NGX Equity Market Starts Trading On Bearish Note As ASI Closes At 47,262.61bps

The domestic bourse kicked off trading on a bearish note following sell-offs of SEPLAT (-4.26%) and UBA (-0.59%) shares.

Thus, the all-share index fell even more by 0.01% to close at 47,262.61 basis points, down 6.00 bps from the previous session's close of 47,268.61 basis points.

Consequently, the ASI index declined further by 220.12 bps from the 52-week high position all-share index of 47,482.73 basis points (the highest resistance point).

The Week-to-Date (W-t-D) and Month-to-Date (M-t-D) indexes declined by -0.01% and -0.28%, while the and Year-to-Date (Y-t-D) moderated at +10.64%.

Fortunately, the volume of trade grew by 62.76% to close at 291.88 million units traded in 4,792 transactions, compared to the previous session's figure of 179.33 million units traded, while the value of shares grew by 34.47% to close at NGN2.82 billion, compared to the previous session's figure of NGN2.12 billion traded.

Consequently, the equity market loss continued as it closed at NGN25,471.97 trillion.

JAIZBANK was the most dominant stock by volume traded with 72.46 million units traded, while GTCO dominated the value section of trade with NGN399 billion worth of shares traded.

MTNN, with a share value of NGN382.2 million, and ACCESS, with a volume trade of 23.1 million units, were some of the notable mentions.

As measured by market breadth, the mood in the market was narrowly positive as 19 stocks gained relative to 15 stocks that lost.

The most gains were made by CORNERST (+9.38%), which closed trading at NGN0.70/unit, WAPIC (+8.70%), which closed trading at NGN0.50/unit, FTNCOCOA (+8.33%), which closed trading at NGN0.39/unit, and HONYFLOUR (+5.14%), which closed trading at NGN3.89/unit, while NIGERINS (-8.70%), which closed trading at NGN0.21/unit, AIICO (-5.71%), which closed trading at NGN0.66/unit, LINKASSURE (-5.17%), which closed trading at NGN0.55/unit, and REGALINS (-4.76%), which closed trading at NGN0.40/unit, registered the most losses.