NGX: FCMB, Access, Zenith, Fidelity Bank drive market turnover, as ASI appreciates by 0.36%
FCMB, Zenith Bank , AccessBank and ) and Fidelity Bank were the most active to boost market turnover. FCMB Group recorded the highest volume of 933 million traded shares, followed by Zenith Bank (29.9m), Access Bank (22.5m) and Fidelity Bank (19.3m) as FCMB and Zenith Bank topped market value list.
Equities market closed on a positive note, as NGXASI appreciated by +0.16% to close at 47,437.48 basis points as against +0.16% appreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +11.05%.
Market breadth closed flat as Niger Insurance led 22 Gainers as against 22 Losers topped by Royalex at the end of today’s session an unimproved performance when compared with previous outlook.
Market turnover closed positive as volume moved up by +341.02% as against -22.23% downtick recorded in the previous session. FCMB leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
At the end of the last weekday of trading , a total of 1,153,534,616 shares in 3,928 deals, corresponding to a market value of NGN 7,028,491,498.01, were traded. Compared with the previous NGX trading day (Thursday, March 10), today’s data shows 341% improvement in volume, 57% improvement in turnover, but 16% decline in deals. The current market capitalization of the Nigerian Stock Exchange is NGN 25.6 trillion.
In the aggregate, 107 NGX listed equities participated in trading, ending with 22 gainers and 22 losers. Niger Insurance Company led the gainers with 10% share price appreciation closing at NGN 0.22 per share, followed by RT Briscoe (+8.96%), UPDC (+7.61%) and UAC of Nigeria (+5.97%). On the losing side, Royal Exchange came out last with an end-of-day price depreciation of 9.7% at NGN 1.21 per share, followed by Ellah Lakes (-9.57%), Pharma-Deko (-8%) and Linkage Assurance (-7.14%).
Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) inched up 73.50 (0.16%) points to close at 47,437.48, representing a 1-week gain of 0.36%, a 4-week gain of 0.5%, and an overall year-to-date gain of 11.05%. Other remarkable indices that performed were the NGX Top 50 Index (+0.45%; +1.33% 1WK; +3.93% YTD), NGX Top 30 Index (+0.24%; +0.54% 1WK; +5.69% YTD), NGX Pension Index (+0.6%; +1.13% 1WK; +6.3% YTD), NGX Banking Index (+0.34%; +1.29% 1WK; +9.45% YTD), NGX Insurance Index (+0.28%; +2.65% 1WK; -2.15% YTD), and NGX Main Board Index (+0.19%; +0.26% 1WK; +14.74% YTD).