ZENITHBANK, TRANSCORP, Drive NGX Equity Market Gain To N50.35 Billion

Equity trading in the domestic bourse kicked off in a bullish mood as the market rode on the back of investors’ demand for INTBREW (+6.7%), GUINNESS (+5.7%), ZENITHBANK (+0.56%), and MTNN (+0.15%) shares.

Following that bullish close, the all-share index added an additional +0.20% to close at 47, 233.91 basis points, which represents a 93.43 bps growth from the previous session's 47,140.48 basis points.

Taking a look at the broader picture, the ASI dipped further by 95.83 bps from its 52-week all-time high of 47,329.80 bps.

The Week-to-Date (W-t-D), Month-to-Date (M-t-D), and Year-to-Date (Y-t-D) indicators grew by +0.20%, +1.31%, and +10.58%, respectively.

Unfortunately, the volume of trade fell by 0.76% to close at 421.46 million units traded in 5,961 transactions, compared to the previous session's figure of 424.69 million units traded. The value of shares also fell by 35.30% to close at NGN4.220 billion, compared to the previous session's figure of NGN6.523 billion traded.

The equity market gained an additional NGN50.35 billion as its cap closed at NGN25,456.51 trillion. 

TRANSCORP with a volume trade of 99.3 million units of shares traded, was the most dominant stock by volume, while ZENITHBANK was the most dominant stock by value, having generated over NGN1.2 billion from 46.3 million units traded.

MTNN, with shares valued at NGN454.6 million, and UCAP, with 31.6 million units traded, were also notable.

When broken down by sector, the oil and gas and industrial goods indexes closed flat, while the consumer goods (+0.4%) index, banking (+0.7%) index, and insurance (+0.2%) indexes all gained.

As measured by market breadth, the mood in the market was positive as 31 stocks gained, while 14 stocks lost.

The most gains were made by RTBRISCOE (+10.00%), which closed trading at NGN0.66/unit, UCAP (+10.00%), which closed trading at NGN13.20/unit, AFRIPRUD (+9.56%), which closed trading at NGN7.45/unit, and ACADEMY (+9.50%), which closed trading at NGN1.96/unit, while MULTIVERSE (-8.00%), which closed trading at NGN0.23/unit, MBENEFIT (-7.14%), which closed trading at NGN0.26/unit, FLOURMILL (-4.56%), which closed trading at NGN33.50/unit, and HONYFLOUR (-4.23%), which closed trading at NGN3.85/unit, registered the most losses.