Tuesday saw a favorable closing for the Nigerian Exchange (NGX). The All-Share Index (ASI) closed at 98,892.58 after rising 0.20%, or 201.97 points.
The market capitalization increased by N122.49 billion, settling at N59.92 trillion from N59.80 trillion. Bulls controlled the market despite buy-interests and sell-offs.
Trading activity decreased, with a 9.88% loss in trading value and a 15.63% decrease in the number of trades, notwithstanding the gains in market capitalization and ASI. While the trading volume increased to 591.01 million shares from 405.02 million shares, the value of deals decreased to N24.84 billion from N27.57 billion.
While CHAMPION dominated in trade volume, SEPLAT topped in trading value. The 9.28% increase in the share price of TRANSCOHOT, followed by WAPIC (9.09%), UPDC (6.90%), UNIVINSURE (5.88%), and ABCTRANS (4.65%), propelled the market’s upward trend.
With a 9.84% drop each, TANTALISER and JOHNHOLT led the list of losers on the downside, followed by DANGSUGAR (8.82%), REGALINS (7.14%), and HONYFLOUR (5.81%).
An Overview Of The MarketÂ
- Current ASI: 98,892.58 points
- Previous ASI: 98,690.61 points
- Day Change: +0.20%
- Year-to-Date Performance: +32.26%
- Volume Traded: 591.01 million shares
- Value Traded: N24.84 billion
- Total Deals: 6,987
Top Gainers:
- TRANSCOHOT: +9.28% to N106.00
- WAPIC: +9.09% to N1.55
- UPDC: +6.90% to N1.55
- UNIVINSURE: +5.88% to N0.36
- REGALINS: +4.65% to N1.35
Top Losers:
- JOHNHOLT: -9.84% to N2.75
- TANTALIZER: -9.84% to N0.55
- DANGSUGAR: -8.82% to N31.00
- REGALINS: -7.14% to N0.52
- HONYFLOUR: -5.81% to N4.38
Top Stocks Traded
The market saw a 9.88% drop in transaction values, which amounted to N2.72 billion less. As a result, the overall value decreased from N27.57 billion in the previous session to about N24.84 billion.
With a contribution of N19.48 billion, SEPLAT was the highest contributor in terms of trade value. Next in line were ZENITHBANK (N444.27 million), OANDO (N546.59 million), CHAMPION (N1.02 billion), and UBA (N1.19 billion).
Trading volume increased significantly by 45.92%, closing at 591.01 million shares, despite the value decline. With 255.28 million shares, CHAMPION had the largest volume, followed by JAPAULGOLD with 108.85 million shares. UBA contributed 44.99 million shares, FCMB contributed 19.15 million shares, and CILEASING contributed 16.91 million shares.
Update on SWOOT and FUGAZ
DANGOTE CEMENT, AIRTEL AFRICA, BUA CEMENT, BUA FOODS, MTNN, ARADEL, GEREGU, and TRANSPOWER are among the SWOOT equities that held steady during the trading session.
In contrast, SEPLAT’s share price dropped by 0.67% in the SWOOT banking sector, while GTCO and ZENITHBANK recorded advances of 2.94% and 0.13%.
Similarly, OANDO and TRANSCOHOT witnessed improvements of 2% and 9.28%, respectively, which enabled both businesses to return to the SWOOT category.
Thirteen stocks now have market capitalizations above one trillion naira (SWOOT).
The FUGAZ stocks also performed well; Access Holdings stayed the same, but GTCO, UBA, FBN Holdings, and ZENITHBANK increased by 2.00%, 1.89%, 0.77%, and 0.13%, respectively.
Prospects
For the second day this week, the market continued to move in a favorable direction.
The quantity of trades and trading value decreased throughout today’s trading session.
Given the decline in value and the number of deals, ASIs did not rise as much as they did on Monday, and the market will probably close on a gloomy note tomorrow.
