• Business - Market Data
  • Updated: November 24, 2021

Trading On NGX Equities Closes In Bullish Mood

Trading On NGX Equities Closes In Bullish Mood

The +0.14% gain achieved on the floor of the Nigerian Stock Exchange (NGX) was eroded by the loss in INTBREW (-2.7%).

Regardless of the narrow -0.01% decline in the ASI from the previous day's trading of 43,260.13 basis points to close at 43,255.14 basis points,

This decline wiped off the gains from OANDO PLC, HONEYWELL FLOUR MILL PLC, and ACCESS.

Accordingly, the trade closure of the All-Share Index at 43,255.14 basis points did not affect the Week-to-Date, Month-to-Date, and Year-to-Date as returns stabilized at +0.13%, +2.9%, and +7.4%, respectively.

While the ASI still moderated between the 52-week high of 43,730.55 and the 52-week low of 34,121.78.

However, the volume of trade declined drastically as profit-taking positions forced it to close at 218 million units sold, down from its Monday figure of 2.4 million units.

This drop represented a -90.93% decline in trade volume valued at NGN2.91billion and exchanged in 4,158 deals.

GTCO was the most traded stock by volume and value, at 36.19 million units and NGN919.63 million, respectively.

GTCO trades took up 31.5% and 16.25% of the total volume and value of trades made yesterday.

Others that followed, especially in the volume chart, were FBNH, ZENITH BANK, and FLOUR MILL, taking up 13.32%, 11.26%, and 8.28%, respectively.

While in the value chart, those stocks responsible for driving the market cap of NGN22.56 billion were FBNH (+14.47%), ZENITH BANK (+6.16%), and ACCESS (+6.01%).

When broken down by sector, the Insurance (-2.0%), Oil & Gas (-0.2%), and Consumer Goods (-0.2%) indices all fell, while the Banking (+0.2%) index rose and the Industrial Goods index closed flat.

In conclusion, the market breadth analysis showed that market sentiment was positive as 18 companies gained relative to 14 losers. HONYFLOUR (+10.0%), UPL (+8.7%), CHIPLC (+7.41%), GLAXOSMITH (+5.79%) and FTNCOCOA (+5.00%) recorded the most significant gains of the day, while NEM (-9.3%), MANSARD (-5.1%), CHAMS (-4.55%), and ROYALEX (-4.08%) topped the losers’ list.

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