NGX Equity Trading Returns To Green Zone As ASI Edge Higher By +0.02%

Trading in the Nigerian stock market edged higher by +0.02% to return to the green zone following ACCESS (+1.02%), and UBA (+0.66%) performances. Thus, the all-share index closed at 47,163.94 basis points, narrowly edging the previous day’s close of 47,156.56 bps by +7.38bps.

Despite the growth, the ASI index still fell short of the 52-week high position all-share index of 47,482.73 basis points (the highest resistance point) by 318.79 bps.

The Week-to-Date (W-t-D) and Month-to-Date (M-t-D) indices remained negative by -0.25% and -0.49%, respectively, while the Year-to-Date (Y-t-D) index increased by 2 basis points to close at +10.41%.

Unfortunately, the positivity in the market as reflected in the ASI couldn’t be translated into the volume and value sections of trade as the number of units traded fell by 17.01% to close at 251.89 million units in 4,099 transactions, as against 303.48 million units traded in the previous session. At the same time, the value of shares fell by 22.52% to NGN3.02 billion, compared to the previous session's figure of NGN3.90 billion traded.

Apparently, the equity market gained NGN4.8 billion, as its equity cap closed at NGN25,418.80 trillion, up from its previous session close of NGN25,414.22 trillion.

FIDELITYBANK, was the most dominant stock by volume traded, with 68.82 million units traded, while GTCO was the most dominant stock by value, with NGN621.97 million traded.

Some of the notable mentions included MTNN, with a share value of NGN544.64 million, and ACCESS, with a volume trade of 38.64 million units, among others.

As measured by market breadth, the mood in the market was mixed as the gainers and losers both recorded 16 each.

The most gains were made by CAP (+10.00%), which closed trading at NGN19.80/unit, LEARNAFRCA (+9.60%), which closed trading at NGN2.17/unit, CHAMPION (+9.09%), which closed trading at NGN2.04/unit, and STERLNBANK (+3.95%), which closed trading at NGN1.58/unit, while FCMB (-8.72%), which closed trading at NGN3.35/unit, MBENEFIT (-7.41%), which closed trading at NGN0.25/unit, ABCTRANS (-6.25%), which closed trading at NGN0.30/unit, and PHARMDEK (-5.98%), which closed trading at NGN1.73/unit, registered the most losses.