Equities investors earn 19.1bn as NGX ASI adds 0.03%

On Tuesday, equities trading at the Nigerian Exchange (NGX) ended on a positive note, with the All-Share Index (ASI) inching up by 0.03 percent to close at 104,529.62 basis points.

This uptick also pushed market capitalisation higher by 0.03 percent to N65.7 trillion, adding approximately N19.1 billion to investors’ wealth.

As a result, the Month-to-Date and Year-to-Date returns settled at -1.0 percent and +1.6 percent, respectively.

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Sectoral performance was mixed—Insurance and Consumer Goods gained 0.15 percent and 0.72 percent respectively, while the Banking sector declined by 0.11 percent.

The Oil & Gas, Industrial Goods, and Commodities sectors closed flat. Market breadth remained strong, with 24 gainers outpacing 19 losers.

Top gainers included Abbey Mortgage Bank, Unilever Nigeria, Learn Africa, Secure Electronic Technology and Consolidated Hallmark Holdings, while Associated Bus Company, The Initiate, Caverton Support Group, Guinea Insurance and Nigerian Exchange Group led the laggards.

Despite the upbeat sentiment, trading activity was relatively subdued as the number of deals and trade volume declined by 9.29 percent and 13.87 percent, respectively.

However, total trade value rose by 3.35 percent, with 368.77 million shares worth N10.87 billion exchanged across 13,228 deals.

Fidelity Bank was the most traded stock by volume at 47.43 million units, while MTN Nigeria Communications was the most traded stock by value at N2.74 billion.

 

NIGERIAN TRIBUNE