Stock Market Halts Downtrend as NGX-ASI Inches Up Marginally by 0.02%


The Nigeria equities market halted the six consecutive trading sessions downtrend as the market performance indicators rose marginally by 0.02% following investors positive reaction on Finance and Industrial Goods sectors.

Consequently, the market index (All-Share Index) increased by 10.32 basis points, representing an upturn of 0.02 percent to close at 42,018.92.

While the Market Capitalization gained ₦5.38Bn, representing an increase of 0.02 percent to close at ₦21.93 trillion.

→ Similarly, the market activities remained bullish as the Total Volume and Value traded rose by 51.46 percent and 23.63 percent, respectively.

639.44 million units valued at ₦5.53 billion were transacted in 4,564 Deals.

FBNH topped as the traded stock in terms of volume, accounting for 56.93 percent of the total volume of trades, followed closely by STERLNBANK (12.66%), ETI (3.09%), GTCO (3.04%), and FIDELITYBK (2.91%) to complete the top five on the volume chart.

Also, FBNH emerged as the most traded stock in value terms, with 62.02 percent of the total value of trades on the exchange.

→ ABBEYBDS appeared as the most profitable stock to lead the advancers’ chart with a price appreciation of 9.47 percent, trailed by NEM (7.56%), WAPCO (5.41%), ZENITHBANK (2.13%), ETI (1.88%), FIDSON (1.63%), GTCO (0.84%), UBA (0.67%), VITAFOAM (0.25%), and eleven (11) others.

On the flipside, nineteen (19) stocks depreciated, topped by GLAXOSMITH with price depreciation of 9.32 percent to close at ₦5.35, as SEPLAT (-5.38%), DANGSUGAR (-3.23%), FLOURMILL (-2.25%), OANDO (-2.17%), FBNH (-1.71%), UCAP (-1.02%), NGXGROUP (-0.88%) and NAHCO (-0.28%) also dipped in price. As a result, the market breadth closed marginally positive, recording 20 gainers and 19 losers.

→ Subsequently, the sector performance was relatively positive, as three of the five sectors appreciated, led by Insurance (1.14%), trailed by Banking (1.13%) and Industrial Goods (0.29%), respectively.

While the Oil & Gas (-2.70%) and Consumer Goods (-0.52%) declined as against the previous session.