NGX gains N339bn as investors buys the dip

The Nigerian Exchange (NGX) closed in positive territory at the end of Wednesday’s trading session as equities snapped a 2-day bearish trend to rise by N339 billion.

The local bourse had seen a 2-day plunge as equities reacted negatively to news of FTSE Russell ratings.

On Wednesday, equities rallied back led by gains from Transcorp and NASCON.

How Equities Reacted

The All-Share Index (ASI) traded +0.93% higher to close at 67,378.88 index points as against 66,760.20 index points recorded in the previous day’s trading session.

Likewise, the market capitalization of equities saw a gain of N339 billion to close at N36.877 trillion, +0.93% higher than the N36.538 trillion recorded in the previous trading session.

Market Indices

Below are the market indices for today’s trading session:

NGX ASI: 67,378.88 points

% Day Change: +0.93%

% YTD: +31.47%

Market Cap: N36.877 trillion

Volume Traded: 569.63 million

Value: N8.70 billion

Deals: 8,404

How Stocks Performed

Market breadth closed positive as DANGOTE SUGAR (10.00%) led gainers, COURTVILLE (-10.00%) led losers while OANDO was the most traded equity – by volume – at the end of today’s session.

Top Gainers and Top Losers

DANGOTE SUGAR, NASCON, and NAHCO led the top gainer’s chart as they all gained +10.00% each.

Meanwhile, COURTVILLE, ABC TRANSPORT, and TANTALIZER led the top losers’ chart as they lost –10.00%, -9.80%, and –9.30% respectively.

Top Traded Stocks

There was lower trading activity in terms of volume as 539.63 million units of shares were traded today compared to the 645.54 million traded from the previous day’s session.

OANDO led the chart in terms of volume as 143.44 million units were traded. ACCESS HOLDINGS (63.56 million) and FIDELITY BANK (39.55 million) rounded up the top 3 traded stocks for today.

In terms of value traded, OANDO (N1.39 billion) led the chart followed by ACCESS HOLDINGS (N1.07 billion) and UBA (N464.55 million) to round up the top three

SWOOTs Watch

Shares of stocks worth over one trillion (swoot) saw mixed results as ZENITH BANK (0.74%), and GTCO (6%) both recorded positive trading sessions.

Meanwhile, BUA CEMENT, BUA FOODS, SEPLAT ENERGY, MTN NIGERIA, DANGOTE CEMENT, and AIRTEL AFRICA all closed flat.

FUGAZ Update

Shares of tier 1 banks saw mixed trading sessions as GTCO (6%), UBA (9.78%), ZENITH BANK (0.74%) and ACCESS HOLDINGS (9.77%) closed positive while FBN HOLDINGS (-0.28%) closed negative.