Equities Market  sustains bullish sentiment as NGX-ASI appreciates by 0.22%

Nigeria’s Equities Market  sustained  bullish streak on Friday, extending the gains recorded in the previous session. The All-Share Index appreciated 0.22% to close at 109,710.37 points, up from 109,467.64 points on Thursday. This raised the year-to-date return to 6.59%.

Investors gained N152.55bn as market capitalisation increased to N68.95 trn on buying interest in NNFM (+10.00%), Betaglas (+9.99%), Berger (+9.79%), Accesscorp (+6.82%), Fidson (+2.77%),  NAHCO (+1.35%), NB (+0.92%), Firstholdco (+0.40%), and 29 others.

At the end of the last weekday of trading, a total of 431,777,103 shares in 16,400 deals, corresponding to a market value of NGN 8,599,058,620.94, were traded. Compared with the previous NGX trading day (Thursday, May 15), today’s data shows 41% decline in volume, 38% decline in turnover, but 11% improvement in deals. The current market capitalization of the Nigerian Stock Exchange is NGN 69 trillion.

In the aggregate, 130 NGX listed equities participated in trading, ending with 36 gainers and 21 losers. Northern Nigeria Flour Mills led the gainers with 10% share price appreciation closing at NGN 119.90 per share, followed by Honeywell Flour Mill (+10%), Champion Breweries (+10%) and Trans-Nationwide Express (+10%).

On the losing side, International Energy Insurance came out last with an end-of-day price depreciation of 9.57% at NGN 1.70 per share, followed by Multiverse Mining & Exploration (-9.55%), The Initiates (-7.86%) and University Press (-7.37%). Access Holdings recorded the highest volume of 32 million traded shares, followed by Guaranty Trust Holding (30.9m), Aiico Insurance (28.9m) and Universal Insurance Company (25m).

Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) inched up 242.73 (0.22%) points to close at 109,710.37, representing a 1-week gain of 0.9%, a 4-week gain of 4.93%, and an overall year-to-date gain of 6.59%.

Other remarkable indices that performed were the NGX Top 30 Index (+0.15%; +0.83% 1WK; +6.24% YTD), NGX Insurance Index (+1.1%; +2.47% 1WK; -6.27% YTD), NGX Consumer Goods Index (+0.46%; +4.08% 1WK; +29.6% YTD), NGX Premium Index (+0.45%; -0.05% 1WK; +7.09% YTD), NGX Banking Index (+0.44%; +1.19% 1WK; +8.24% YTD), and NGX Industrial Index (+0.43%; +0.13% 1WK; -4.58% YTD).