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  • Business - Market Data
  • Updated: January 11, 2022

NGX Gains N22.96 Billion As ASI Sets New Record Of 43,897.13 Bps

The NGX equity market edged higher setting new records after breaking the previous 52-week all-time highest point by closing trading riding on the back of BUAFOODS’s (+9.96%) impressive run.

Thus, the all-share index grew by 0.10% from its’ previous session position of 43,854.42 basis points to close at 43,897.13 basis points.

This all-share index figure of 43,897.13 basis points becomes the new 52-week highest resistance point as it shattered the previous record of 43,854.42 bps set on Friday, January 7, 2022.

Accordingly, the domestic bourse gained 42.71 bps to edge higher on the account of investors’ desire to get on the BUAFOODS’s moving train.

Apparently, trading in the NGX equity market saw the ASI get to as high as 44, 345.64 bps thanks to investors’ aggressive drive on stocks of BUAFOODS and DANGCEM.

Consequently, the Week-to-Date (W-t-D), Month-to-Date (M-t-D), and Year-to-Date (Y-t-D) gain moderated at +2.76%, respectively.

Taking a critical examination of the volume and value aspects of trade yesterday, the total volume of trade decreased by 21.23% to 311.3 million units, as against its previous session figure of 395.2 million units traded. These shares’ values, which decreased by 30.65%, were worth NGN8.6 billion and exchanged in 5,159 deals as against NGN12.4 billion traded previously.

As a result of traders’ continued excitement over the all-share index (ASI), the equity market capitalization gained an additional NGN22.96 billion to close at NGN23,650.96 trillion, as against the previous session position of NGN23,628 trillion.

Despite, its decline from its previous day trading position, BUAFOODS' shares (+9.96%) continued to be the most valuable in the NGX equity market as they recorded a volume unit of 101.4 million units traded valued at NGN5.9 billion.

Another notable mention is DANGCEM, with 2.6 million units traded worth NGN688 million.

Finally, as measured by market breadth, market sentiment was positive, as 28 companies’ stocks gained relative to 18 losers.

The most gains were made by BUAFOODS (+9.96%), which closed trading at NGN58.50/unit, MRS (+9.72%), which closed trading at NGN13.55/unit, PZ (+8.53%), which closed trading at NGN7.00/unit, and AIICO (+7.69%), which closed trading at NGN0.84/unit, while NNFP (-9.66%), which closed trading at NGN6.55/unit, UBN (-6.90%) which closed trading at NGN5.40/unit, REDSTAREX (-6.38%) which closed trading at NGN3.23/unit, MTNN (-5.84%) which closed trading at NGN185.50/unit, and SOVRENINS (-3.85%), which closed trading at NGN0.25/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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