NGX Extends Gain By N178.40bn As ASI Strengthens By 73bps

The equities segment of the Nigerian Exchange (NGX) on Tuesday extended its gaining streak to the fourth consecutive session, as market capitalization appreciated by N178.40billion, while the All-Share Index (ASI) gained 0.73 per cent to close at 44,788.14 points.

At the close of yesterday’s trading session, the market capitalization closed at N24.39trillion, compared to the N24.22trillion it recorded on the first trading session of the week.

Consequently, the Year-to-date (YTD) return of the market strengthened to 4.9 per cent from 4.1 per cent the previous trading day.

Top gainers in the market were led by BUACEMENT (+10.0%), SUNUASSUR (+9.4%), and JAIZBANK (+9.0%). On the other hand, ROYALEX (-9.6%), MULTIVERSE (-8.5%), and MAYBAKER (-6.7%) posted as today’s top losers.

For today’s trading activities, the total volume traded and total value traded gained 120.2 per cent and 25.8 per cent respectively to 159.2million units and N2.7billion. MBENEFIT, STERLNBANK and JAIZBANK led the volume chart with 47.4million units, 24.4million units and 10.6mn units respectively. However, AIRTELAFRI, MTNN and GTCO led the value chart with N1.0billion, N847.9million and N115.7mn respectively.

For indices under our purview, performance was more bearish as three indices posted red and two indices posted green.

Performance indicates that the Insurance index led the losers with 24bps, followed by the Oil and Gas and Consumer Goods indices which declined by 18bps and 10bps respectively.

The losses were majorly attributed to investors’ selloffs in ROYALEX (-9.6%), OANDO (-1.2%) and HONYFLOUR (-3.3%) accordingly. Meanwhile, the Industrial Goods and Banking indices gained 400bps and 50bps respectively, which were accredited to gains in WAPCO (+1.3%) and JAIZBANK (+9.0%).

BUA Cement Plc, Nigeria’s second largest cement company, increased Profit After Tax (PAT) by 24.5 per cent to N90.1 billion for the fiscal year ended December 31, 2021, compared to N72.3 billion in the previous year.

The company’s audited financial results, which were released on the Nigerian Stock Exchange (NGX), showed that profit for the fiscal years ended 2018 and 2019 stood at N64.1 billion and N60.6 billion, respectively, representing a 5.4 per cent decrease and a 19.4 per cent increase year-on-year.