Trading In NGX Equity Market Ends Bullish

Trading closed in a bullish mood as investor sentiment over growth stocks such as INTBREW (+3.19%), DANGCEM (+1.19%), ACCESS (+0.66%), and FBNH (+0.42%) pushed the all-share index to close higher at 42,353.31 basis points. Thus, this 83.08 bps growth represents a 0.21% increase to the previous day's position of 42,270.23 basis points.

Consequently, the all-share index marginal gains drifted greatly by 1,377.24 basis points behind the 52-week high of 43,730.55 basis points (resistance point) and progressed away by 8,102.57 basis points from the 52-week low of 34,250.74 basis points (support point).

As a result of this bullish closure, the equity market recorded a significant gain of NGN50.9 billion to close at NGN22,107.29 trillion, as against its previous day position of NGN22,056.6 trillion.

However, the total volume traded increased by 37.01% to 341.7 million units from its previous day’s position of 249.43 million units valued at NGN3.5 billion and exchanged in 3,059 deals.

FBNH, UACN, INTBREW, DANGCEM, ZENITHBANK, ACCESS, and MTNN were the most traded stocks by volume and value, taking up exactly 45% of the share ratio traded.

As measured by market breadth, market sentiment was positive, as 22 companies’ stocks gained relative to 15 companies’ stocks that lost.

The gainers’ chart was dominated by PHARMADEK (+10.00%), ROYALEX (+9.52%), MBENEFIT (+8.33%), REGALINS (+7.89%), and WAPIC (+6.25%).

However, the losers’ chart was dominated by CHAMPION (-10.00%), HONYFLOUR (-7.61%), ACADEMY (-5.88%), COURTVILLE (-5.26%), and UBN (-5.15%).