Investors Kick-Start 2022 With Bullish Sentiment as the NGX-ASI Rises by 0.73%

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The Nigeria equities market kick-starts the new year on a positive note to sustain last year bullish sentiment.

The growth follows investors’ positive sentiment in blue-chip stocks such as BUACEMENT, FLOURMILL, ZENITHBANK and 15 others.

As a result, the market index (All-Share Index) rose by 309.79 basis points, representing a growth of 0.73 percent to close at 43,026.23.

While the Market Capitalization gained ₦886.76Bn, representing a surge of 3.98 percent to close at ₦23.18 trillion, following the listing of BUAFOODS at ₦40 per unit.

→ However, the market activities traded negatively as such, the Total Volume and Value traded dipped by 52.41 percent and 84.67 percent, respectively. 216.65 million units valued at ₦1.52 billion were transacted in 4,080 Deals.

CHAMS led the traded stocks in terms of volume, accounting for 13.78 percent of the total volume of trades, followed closely by WEMABANK (7.90%), ZENITHBANK (5.09%), TRANSCORP (4.96%), and SOVERNINS (4.84%) to complete the top five on the volume chart. ZENITHBANK emerged as the most traded stock in value terms, with 18.36 percent of the total value of trades on the exchange.

→ ACADEMY led on the gainers’ chart with maximum price appreciation of 10.00 percent, trailed by NEIMETH (8.00%), BUACEMENT (7.31%), STANBIC (5.56%), FLOURMILL (2.29%), ZENITHBANK (0.60%), UCAP (0.51%), WAPCO (0.21%) and thirteen (13) others.

On the other hand, twenty-seven (27) stocks depreciated, led by ARDOVA, NNFM &VITAFOAM with price depreciation of 10.00 percent each to close at ₦11.70, ₦7.2 & ₦20.25, respectively, as CHIPLC (-6.33%), UACN (-5.26%), NB (-4.00%), DANGSUGAR (-2.59%), NGXGROUP (-2.01%), UBN (-1.69%), FBNH (-0.88%), AFRIPRUD (-0.79%) and ACCESS (-0.54%), also dipped in price. Consequently, the market breadth closed negatively, recording 18 gainers and 27 losers.

→ Accordingly, the sector performance was relative negative, as three of the five sectors depreciated, led by the Consumer Goods (-0.92%), trailed by Oil & Gas (-0.50%), and Insurance (-0.43%), while the Industrial Goods and Banking sectors grew by 2.97% and 0.39%, respectively.