NGX maintains positive sentiments as investors N532bn . to win

Shares trading on the Nigerian Exchange Limited (NGX) was bullish on Thursday as the exchange extends the previous day’s gains, closing the benchmark index up 2.03 percent.

Overall bullish trading was driven largely by positive outings in Airtel Africa, Nestle Nigeria and BUA Foods, which pushed the stock market higher.

Notably, the All Share Index (ASI) gained 203 basis points (bps) to push the ASI to 49,661.87bps from its previous close of 48,675.33bps, representing both month-to-date and year-to-date performance of the ASI was pegged at -1.41 percent and 16.26 percent from their previous close of -3.36 percent and 13.95 percent, respectively.

Investors therefore earned N532 billion as the market cap followed the direction of the ASI to reach N26.786 trillion, up 2.03 percent from the N26.254 trillion it stood at the end of the previous trading session, as the investor wealth improved by N532 billion during the session.

Also, the bull camp maintains market-width dominance with 18 counters in the gainers chart versus 11 counters in the losers chart.

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CWG gained 10.00 percent to become the top-performing stock in the session. It is flanked by Learn Africa, Caverton, Multiverse and Chams, who populated the top five gainers. At the back of the chart, Mutual Benefits, Honeywell Flour Mills, Flour Mills of Nigeria, Unity Bank and FCMB Group were in the top five losers.

All sector indices closed in the same direction as the ASI, except NGX Consumer Goods and NGX Industry which lost 0.06 percent and 0.01 percent respectively during the session, while NGX Growth and NGX ASEM sectors closed flat.

Market activity, as measured by trading volume, improved in the session with a daily volume of 226.473 million units traded, up 35.15 percent from a volume of 167.569 million units traded in the previous session.

In contrast, the value of those traded shares fell 18.08 percent in the session, standing at N2.764 billion, up from a value of N3.374 billion recorded in the previous trading session.

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The financial services sector dominated the volume charts with Mutual Benefits being the best traded stock by volume for the trading session. This is followed by FBN Holdings, Access Corporation, United Bank for Africa and NEM Insurance to complete the list of the five most traded stocks by volume.

In terms of the value of traded shares, MTN Nigeria took the lead among the top five performers. It is flanked by Nestle Nigeria, Airtel Africa, FBN Holdings and Guaranty Trust Holding Company.

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NGX maintains positive sentiments as investors N532bn . to win

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NGX maintains positive sentiments as investors N532bn . to win

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