Investors Gain N52bn as Stock Index Sustains Uptrend

The Nigerian equities market extended the positive momentum from the week’s opening day as sustained interest in the shares of BUA Cement that led to 2.5% gain in the manufacturing stock supported overall market performance.

Thus, the All-Share Index (ASI) that measure stock price movement at the domestic bourse, advanced by 0.2% to 48,366.69 points, while market capitalisation of listed stock on the NGX closed Tuesday at N26.344 trillion after gaining N52 billion to close the session in the green.

Accordingly, the Month-to-Date (MtD) and Year-to-Date (YtD) returns printed +1.5% and +13.2%, respectively.

Sectoral Performance was mixed, as the Industrial Goods (+1.2%), Insurance (+0.2%), and Consumer Goods (+0.1%) indices advanced, while the Oil & Gas (-0.4%) index declined. The Banking index closed flat.

The total volume traded declined by 71.4% to 184.66 million units, valued at N3.57 billion, and exchanged in 3,189 deals.

Trading statistics by the NGX showed that First Bank of the Nigeria Holdings (FBNH) was the most traded stock by volume at 66.11 million units, while GEREGU Power Limited was the most traded stock by value at N1.75 billion, thus contributing 36% and 49% to traded volume and turnover respectively.

Meanwhile, as measured by market breadth, market sentiment was positive as 16 gaining stocks appreciated relative to 12 losing counterparts.

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