Investor’s Gains ₦104.54 Billion, as Equity Market Close in the Green

Stockbrokers work at the Nigerian Stock Exchange in Lagos on May 16, 2019. - Africa's largest mobile phone operator, MTN, listed shares on the Nigerian Stock Exchange (NSE) in a $6 billion flotation reflecting its increasing presence in the Nigerian market, its largest. (Photo by PIUS UTOMI EKPEI / AFP) (Photo credit should read PIUS UTOMI EKPEI/AFP via Getty Images)
Read audio

The Nigerian Equity market closed trading activities for today, Wednesday (31st August 2022) bullish, as the market performance indicators (NGX-ASI and Market Capitalization) grew by 0.39%.

Consequently, the market index (All-Share Index) rose by 193.82 basis points, representing an increase of 0.39 percent to close at 49,836.51.

The Market Capitalization gained ₦104.54 bn, also representing an increment of 0.39% to close at ₦26.88 trillion from ₦26.78 trillion the previous day.

Also, market activities were positive as the Total Volume and Value traded for the day were up by 191.66% and 5.35% accordingly. Approximately 367.34 million units valued at ₦3.24 billion were transacted in 3,725 deals.

STERLNBANK was the most traded stock in terms of volume, accounting for 44.26% percent of the total volume of trades, followed by ACCESSCORP (7.55%), UBA (7.24%), FBNH (6.11%), and FIDELITYBK (5.49%) to complete the top five on the volume chart.

Also, MTNN emerged as the most traded stock in value terms, with 26.98% percent of the total value of trades on the exchange.

GUINNESS topped the advancers’ chart with a price appreciation of 9.88 percent, trailed by CAVERTON (9.62%), TRANSCORP (8.65%), NGXGROUP (6.43%), LASACO (5.10%), FIDELITYBK (4.93%), WAPCO (4.60%) and Thirteen (13) others.

On the Contrary, twelve (12) stocks depreciated, topped by CHIPLC with a price depreciation of 7.69% to close at ₦0.60, as UNILEVER (-7.22%), UPDCREIT (-7.04%), JAIZBANK (-4.44%), UPDC (-1.96%), HONYFLOUR (-1.85%), NB (-0.66%) and ZENITHBANK (-0.23%) also dipped in price.

In that regard, the market breadth closed positive, recording 20 gainers and 12 losers.
In addition, the sector performance was positive as four out of the five major market sectors closed in the green, led by the Consumer goods (+1.80%), trailed by the Banking (+0.62%), the Industrial (+0.37%), and the Oil & Gas (+0.33%) sectors, while the Insurance sector (-0.10%) closed negative.