Equities Market Halts Negative Tempo, Gains N43bn Amid Low Turnover

The Equities Market of the Nigerian Exchange Limited ((NGX) Limited on Tuesday halts its three consecutive days of negative tempo to close the second trading session of the week, as investors networth improved by N43billion amidst low turnover.

The NGXASI gained 16bp to push the All-Share-Index to 49,709.46bps as against its previous close of 49,629.43bps. This outing pegged both the month-to-date and year-to-date performance of the All-Share Index at -1.31 per cent and 16.37 per cent from their previous close of -1.47 per cent and 16.18 per cent respectively.

Market Capitalization followed suit the direction of the ASI to stand at N26.812trillion, representing a 0.16 per cent increase from the N26.769trillion it stood at the end of the previous trading session, as investors networth improved by N43 billion in the session.

Bears’ camp maintained dominance over the market breadth with 22 counters in the losers chart pitted against 10 counters in the gainers chart.

CUTIX gained 7.50 per cent to become the best performing stock in the session. It is flanked by LASACO, UBN, ACADEMY, and BUACEMENT as they populated the top five gainers’ chart. From the rear of the chart, UPDCREIT, PZ, COURTVILLE, JAPAULGOLD, and WAPIC populated the top five losers’ chart.

Key sectoral indices closed in a mixed direction with the ASI, with the NGX INDUSTR sector gaining the most weight, as NGX INS sector lost the most weight, while NGXGROWTH and NGX ASEM sectors closed flat.

Consequently, the market activity as measured by the volume of trades shed weight in the session with daily traded volume standing at 204.163mn units, representing 3.17  per cent downtick from a volume of 210.836mn units traded in the previous session.

Value of those traded stocks dipped by 25.02 per cen in the session to stand at N1.640bn as against a value of N2.188bn recorded in the previous trading session.

FBNH dominated the volume charts as the top traded stock by volume for the trading session.  This is followed by ETRANZACT, UBA, ACCESSCORP, and ETERNA to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, FBNH took the lead of the top five performers. It is flanked by GTCO, ACCESSCORP, UBA, and lastly ZENITHBANK.