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  • Business - Market Data
  • Updated: February 10, 2022

UBA, ACCESS Kick Start Market Recovery As NGX ASI Gains +0.21%

Buying pressure returned to the domestic bourse as investors, sighting new opportunities, took advantage of profit-making opportunities in UBA (+6.8%) and ACCESS (+2.9%). Thus, the all-share index gained by 0.21% to close at 47,157.24 bps.

Despite the growth, the ASI still fell behind the 52-week All-Time-High of 47, 329.80 bps, by 172.56 bps.

While the Week-to-Date fell by -0.26%, the Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) stayed moderated at +1.1% and +10.4%, respectively.

Unfortunately, the volume of trade decreased by 24.78% to 297.25 million units, which were traded in 4,661 transactions, compared to the previous session's figure of 238.22 million units traded, while the value of shares fell by 7.69%, to close at NGN4.69 billion, as against the NGN5.09 billion traded previously.

As a result, the equity market gained NGN53.88 billion as its cap closed at NGN25,411.33 trillion when compared to the previous session position of NGN25,357.45 trillion.

ACCESS was the most active stock by volume with 48.08 million shares worth NGN498.7 million, while PRESCO was the most active stock by value with NGN910.71 million traded.

MTNN, with shares valued at NGN869.91 million, and SOVRENINS, with 37.7 million units traded, were also notable.

On a sector-to-sector basis, the insurance (+0.2%), oil & gas (+0.1%), banking (+1.7%), and consumer goods indices all posted gains, while the industrial goods index closed flat.

As measured by market breadth, market sentiment was positive as 25 companies’ stocks gained relative to 13 stocks that lost.

The most gains were made by RTBRISCOE (+10.00%), which closed trading at NGN0.33/unit, SCOA (+9.49%), which closed trading at NGN1.50/unit, NEM (+7.25%), which closed trading at NGN3.55/unit, and UBN (+6.84%), which closed trading at NGN6.25/unit, while MULTIVERSE (-4.76%), which closed trading at NGN0.20/unit, SOVRENINS (-4.17%), which closed trading at NGN0.23/unit, AIICO (-2.74%), which closed trading at NGN0.71/unit, and UPDCREIT (-2.74%), which closed trading at NGN3.75/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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