NGX ASI increases by 0.1% as sentiments goes bullish

On Thursday, bullish sentiments resurfaced in the domestic stock market as gains in International Breweries and Nigerian Breweries led to a 0.1 percent increase in the benchmark index, bringing it to 106,220.94 basis points.

Consequently, the Month-to-Date and Year-to-Date returns settled at -1.5 percent and +3.2 percent, respectively.

As measured by market breadth, market sentiment was positive, with 34 tickers gaining compared to 20 losers.

On the performance board, UPDC and International Breweries led the gainers, appreciating in share value by 9.9 percent and 9.6 percent, respectively. Meanwhile, University Press and Academy Press recorded the highest losses of the day, declining in share value by 10.0 percent and 9.7 percent, respectively.

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By sector, the Consumer Goods, Insurance, and Oil & Gas indices gained 0.6 percent and 0.1 percent, respectively, while the Banking index declined by 0.5 percent. The Industrial Goods index remained flat.

The total trading volume at the Nigerian Exchange on Thursday decreased by 77.8 percent to 332.76 million units, valued at N16.51 billion, and was exchanged in 11,059 deals.

Tantalizer was the most traded stock by volume, with 29.62 million units, while Geregu Power was the most traded stock by value at N7.77 billion.