• Business - Market Data
  • Updated: January 15, 2022

NGX Equity Market Sustains Losing Streak As ASI Declines By 0.34%

The NGX equity market closed trading for the week with a -0.34% dip in the all-share index caused majorly by losses sustained by SUNUASSUR (-8.82%) and CUTIX (-7.17%).

As a result, the all share-index closed at 44,454.67 basis points, which again represents a 0.34% dip from its previous session position of 44,604.74 basis points.

Consequently, the all-share index figure of 44,454.67 basis points declined by 154.13 bps from the 52-week highest resistance point of 44,608.80 bps.

Following the above, the Year-to-Date (Y-t-D) gain stayed moderated at +4.13%.

Despite, the drop in the ASI the volume and value of trade carried out yesterday still went up, as the total volume of trade increased by +26.1% to 405.74 million units, as against its previous session figure of 321.84 million units traded.

These shares’ values, which increased by +160.7%, were worth NGN9.83 billion and exchanged in 3,880 deals as against NGN3.77 billion traded previously.

The growth in the volume and value of trade carried out was not reflective in the market cap, as the equity market lost NGN80.9 billion to close at NGN23,951.21 trillion, when compared to the previous session day's position of NGN24,032.21 trillion.

BUAFOODS (+9.71%) was the most traded stock by volume and value with 102.6 million units worth NGN6.76 billion transacted, followed closely by TRANSCORP with 97.2 million units worth NGN110.2 million traded.

As measured by market breadth, market sentiment was negative as 17 companies’ stocks lost relative to 14 winners.

The most gains were made by FIDSON (+9.65%), which closed trading at NGN7.50/unit, JBERGER (+3.64%), which closed trading at NGN22.80/unit, STERLNBANK (+3.29%), which closed trading at NGN1.57/unit, and UPDC (+2.61%), which closed trading at NGN1.18/unit, while SUNUASSUR (-8.82%), which closed trading at NGN0.31/unit, CUTIX (-7.17%), MBENEFIT (-3.57%), which closed trading at NGN0.27/unit, JAIZBANK (-2.86%), which closed trading at NGN0.68/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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