Bull Regain Strength as NGX-ASI Rebounds by 1.99%

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The Nigeria equity market rebounded from the previous session’s decline as the bull at Lagos Custom Street regained strength with an upsurge of 1.99 percent in the market performance indicators.

The upturn was driven by the investors’ bargain hunting in bellwether stocks. As a result, the All-Share Index rose by 1,033.04 basis points representing a 1.99 percent growth, to closed at 52,838.45.

While the Market Capitalization gained ₦556.93Bn to increase by 1.99 percent and closed at ₦28.49 trillion.

→ Similarly, the market activities were bearish, as the Total Volume and Value trade surged by 25.90 percent and 45.58 percent, respectively. About 417.39 million units valued at ₦7.33 billion were transacted in 7,255 Deals.

JAIZBANK emerged as the most traded stock in terms of volume, accounting for 9.70 percent of the total volume of trades, followed closely by TRANSCORP (8.48%), INTBREW (6.08%), UNILEVER (5.91%), and FIDELITYBK (5.03%) to complete the top five on the volume chart.

While MTNN appeared as the most traded stock in value terms, with 17.65 percent of the total value of trades on the exchange.

→ CWG & OKOMUOIL topped the advancers’ list with a price appreciation of 10.00 percent each, trailed closely by MTNN (9.21%), FLOURMILL (4.93%), PRESCO (3.93%), DANGSUGAR (2.72%), DANGCEM (2.60%), NB (2.60%), WAPCO (1.40%), GTCO (0.84%), ZENITHBANK (0.31%) and thirty (31) others.

Conversely, thirteen (13) stocks depreciated, topped by IKEJAHOTEL & BUAFOODS with a price depreciation of 10.00 percent to close at ₦1.17 and ₦56.7, respectively as UNILEVER (-8.50%), PZ (-4.74%), CAP (-2.46%), JBEGER (-2.33%), UCAP (-1.83%), GUINNESS (-1.46%), FBNH (-0.81%) and NGXGROUP (-0.41%) also dipped in price.

In that regard, the market breadth was positive, recording 41 gainers and 27 losers.

→ Consequently, sectoral performance was positive, as all the five sectors closed bullishly compared to the previous session, led by the Consumer Goods (1.48%), Industrial Goods (1.41%), Insurance (0.94%), Oil & Gas (0.10%) and Banking (0.03%) sectors, respectively,