The Nigerian Stock Exchange All Share Index firmed up further by 0.62% in today’s trading session to close at 22,868.40 index points, making it three straight gains this week.
Market capitalization also increased by the same margin to N11.917 trillion, as investors gained N73.24 billion.
Although the volume of shares traded rose slightly by 4.05% to 277.42 million units, value traded fell by -7.44% to N2.548 billion, with 4,464 deals exchanging hands.
FBNH (+3.40%) was the most traded stock by volume at 56.62million units, followed by UBA (+1.69%), with 52.76 million units of trades. Market sentiment, as measured by market breadth, was positive with 14 gainers leading by VITAFOAM (+10.00%), as against 12 losers topped by ETERNA (-9.60%).
Performance across sectors was positive, with all sectors closing in green. The Oil & Gas and Consumer Goods indices recorded the most gains, appreciating by 0.43% and 0.42% respectively on the back of rise in ARDOVA (+9.95%) and INTBREW (+4.35%).
Similarly, the Industrial and Banking Indices also advanced by 0.26% and 0.22% respectively due to gains in WAPCO (+2.68%), FBNH (+3.37%) and UBA (+1.69%).
VITAFOAM up 9.98% to close at N4.96; ARDOVA up 9.95% to close at N10.5; UACN up 9.68% to close at N6.8; WAPCO up 2.68% to close at N11.5, and MTNN up 2.38% to close at N107.4.
ETERNA down 9.62% to close at N2.16; UPL down 7.62% to close at N0.97; CORNERST down 6.78% to close at N0.55; CAVERTON down 2.13% to close at N2.3; and ZENITH BANK down 1.01% to close at N14.7.
Bullish dominance in the NGX Banking Index
The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25.
The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25. There were 5 profits opposing 5 losses, but the magnitude of the gainers pushed the Banking Index into the green.
Union Bank led the gainers with a profit of +0.45, pushing its price upwards from N4.95 to N5.40.
Zenith Bank came second amongst the gainers with a profit of +1.14%, posting N22.20 from the previous day’s close of N21.95.
Guaranty Trust Bank also closed in profits with an increase of +0.86%, leaving its price at N29.40 from its previous price of N29.00. Sterling Bank was also part of the gainers with a profit of +0.63% putting its price at N1.60 from its previous close of N1.58.
Access Bank made profits of 0.62%, pushing its prices to N8.15 from N8.10.
Wema Bank was the biggest loser at the end of yesterday’s trading session as it made losses of -4.92%, leaving its price at N0.58 from N0.61.
Jaiz Bank also made losses of -3.23%, pushing its closing price to N0.63 from N0.62 obtained the previous day.
Ecobank joined the losers, posting a loss of -1.89% which put its price at N5.20 from its previous price of N5.30.
Fidelity Bank followed with a loss of -0.90%, putting its price at N2.24 from N2.22. UBA also posted a loss of -0.69%, pushing its price from N7.25 to N7.20.
- Market sentiment tends bullish as the magnitude of gainers outweighed the losers despite the 5 gainers and 5 losers held at the end of the trading session.
- Nairametrics advises cautious buying amid growing uncertainties.
Union Bank, LINKASSURE push NGX ASI into recovery
The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM.
Nigerian stock exchange market made a bullish recovery on the last day of the week’s trading session. This surge was bolstered by gains made by UBN and LINKASSURE amongst others. The All-Share Index increased by +0.21% to close at 39,198.75 from 39,114.73.
- Nigerian Stock Exchange market value currently stands at N20.48 trillion. Its Year-to-Date (YTD) returns currently stand at -2.66%.
- The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM, showing a hint of consolation.
- LINKASSURE up +9.25% to close at N0.69
- JOHNHOLT up +9.26% to close at N59
- UBN up +9.09% to close at N5.40
- ROYALEX up +8.33% to close at N0.65
- CHIPLC up +8.33% to close at N0.39
- NEM down -9.50% to close at N1.81
- COURTVILLE down -9.09% to close at N0.20
- SUNUASSUR down -8.47% to close at N0.54
- INITSPLC down -6.98% to close at N0.40
- ETERNA down -6.89% to close at N5.81
The market recovered from a week-long loss as it posts profit at the end of the trading session.
- Market sentiments tend toward bullish momentum as the NGX ASI closes with 25 Gainers and 16 losers.
- Nairametrics however, advises cautious buying in this era of growing uncertainties.
Nairametrics | Company Earnings
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- Okomu Oil proposes dividend worth N6.7 billion for shareholders.
- Ardova Plc confirms appointment of Oladeinde Nelson-Cole as secretary.
- Cadbury Nigeria Plc set to hold 56th Annual General Meeting (AGM) on June 16.
- FCMB Group Plc appoints Muibat Ijaiya as Director.
- Afromedia Plc reports a loss after tax of N27.3 million in Q1 2021.