Bullish Sentiment Dominates Custom Street as 36 Stocks Lift NGX-ASI by 0.49%


On Friday, bullish sentiment dominated the Lagos Custom street to push the market capitalization above ₦26trillion following the investors’ bargain hunting and reaction to Q1’2022 earnings report.

Consequently, the All-Share Index rose by 235.79 basis points representing a 0.49 percent growth, closed at 48,459.65. While the Market Capitalization gained ₦127.11Bn, representing a surge of 0.49 percent to close at ₦26.13 trillion.

→ Similarly, the market activities were bullish, as the Total Volume and Value spiked by 39.83 percent and 22.35 percent, respectively. About 342.14 million units valued at ₦3.86 billion were transacted in 4,976 Deals.

Today, FIDELITYBK emerged as the most traded stock in terms of volume, accounting for 13.81 percent of the total volume of trades, followed closely by SOVRENINS (12.88%), ZENITHBANK (11.66%), TRANSCORP (7.07%), and ACCESSCORP (6.33%) to complete the top five on the volume chart.

While ZENITHBANK appeared as the most traded stock in value terms, with 25.69 percent of the total value of trades on the exchange.

→ OANDO topped the advancers’ chart with price appreciation of 9.94 percent, followed closely by ETERNA (9.92%), WAPCO (9.89%), FIDELITYBK (4.65%), ACCESSCORP (4.17%), ZENITHBANK (4.12%), FLOURMILL (3.06%), HONYFLOUR (1.30%), UBA (1.25%), NB (1.14%), OKOMUOIL (0.71%), GTCO (0.41%) and twenty-four (24) others.

On the flip side, eighteen (18) stocks depreciated, topped by ACADEMY with a price depreciation of 10.00 percent to close at ₦1.17, as MANSARD (-1.93%), AFRIPRUD (-1.64%), STERLNBANK (-1.34%), VITAFOAM (-0.89%), ETI (-0.42%) and NEM (-0.25%) also dipped in price.

In that regard, the market breadth was largely positive, recording 36 gainers and 18 losers.

→ Subsequently, sectoral performance was positive, as four the five sectors closed bullishly compared to the previous session, led by Banking (2.93%), Oil & Gas (1.66%), Consumer Goods (0.76%) and Industrial Goods (0.62%), respectively. While the Insurance sector tanked by 0.15 percent.