Equity Market Resumes Positive, expands by 0.39% as Investors Awaits MPC Meeting Outcome

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Trading activities closed bullish to start the new week on a positive note, as the market performance indicators (NGX-ASI and Market Capitalization) rose by 0.39%.

Resultantly, the market index (All-Share Index) increased by 191.73 basis points, representing a rise of 0.39% to close at 49,218.35. The Market Capitalization gained ₦103.42 bn, also representing an increase of 0.39% to close at ₦26.55 trillion from ₦26.44 trillion the previous day.

However, market activities were minimal as the Total Volume and Total Value traded for the day decreased by 29.50% and 73.22% respectively. Approximately 119.28 million units valued at ₦854.76 million were transacted in 3,580 deals.

COURTVILLE was the most traded stock in terms of volume, accounting for 20.47% of the total volume of trades, followed by FCMB (16.81%), ZENITHBANK (7.45%), TRANSCORP (4.98%), and UBA (4.94%) to complete the top 5 on the volume chart.

Also, ZENITHBANK emerged as the most traded stock in value terms, with 20.75% of the total value of trades on the exchange.

MULLTIVERSE topped the advancers’ chart with a price appreciation of 9.93 percent, trailed by FCMB (8.02%), UBN (7.83%), JAPAULGOLD (7.41%), NGXGROUP (5.88%), and seven (7) others, while seventeen (17) stocks depreciated, topped by ACADEMY with a price depreciation of 10.00% to close at ₦1.53, as NEIMETH (- 8.33%), CHAMPION (-7.86%), MANSARD (-5.88%), VITAFOAM (-4.23%), HONYFLOUR (-2.13%) and UBA (-1.37%) also dipped in price.

In that regard, the market breadth closed negative, recording 12 gainers and 17 losers.

In addition, the sector performance was however negative, as three out of the five major market sectors closed bearish, led by the Insurance sector (-2.61%), trailed by the Oil & Gas (-0.34%), and the Consumer goods (-0.11%), while the Industrial sector (+1.89%) and Banking sector (+0.52) closed positive.