Equities investors gain N2.3trn in January as bulls persist at NGX

At the end of trading activities for the first month of the year 2022 at the Nigerian Exchange Limited (NGX), investors earned N2.28 trillion.

Following a series of positive sentiments at the local bourse, on Monday, 31 January, the market capitalisation settled at N25.12 trillion as against N22.30 trillion recorded at the end of trading activities on December 31, 2021.

Thus, the local stock market has advanced 3,908.23 base points since the start of the year.

At the close of the market on Monday 31st January 2022, the stock exchange market value currently stands at N25.12 trillion from N24.90 trillion on the previous trading day.

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The market breadth closed positive as CHIPLC led 33 gainers, and 23 losers topped by UPL at the end of today’s session.

The local bourse index rebounded by 0.20 per cent to close at 42,353.31 points amid bargain hunting on shares of Wapic Insurance, PZ, Dangote Sugar, United Bank for Africa and Dangote Cement.

Hence, their respective share prices rose by 6.25 per cent, 5.93 per cent, 2.10 per cent, 1.91 per cent and 1.19 per cent.
Consequently, the year-to-date gain of the local bourse rose by 5.17 per cent even as the Exchange printed a higher number of 21 gainers than 19 losers.

Given the upturn in the benchmark index, performance across sub-indices tracked were largely positive except for the NGX Banking Index and the NGX Oil/Gas index which fell by 0.49 per cent and 0.11 per cent respectively. The NGX Insurance index, NGX Industrial Index and the NGX Consumer Goods index Increased by 0.60 per cent, 0.62 per cent and 0.28 per cent respectively.

Meanwhile, the market transaction was mixed as the volume of stocks traded today increased by 36.99 per cent to N341.69 million while the value of stocks traded fell by 1.08 per cent to N 3.54 billion.