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Home Markets Equities Stock Market

Gains from MTN Nigeria, 18 other stocks lift market activities to bullish stance

Chris Ugwu by Chris Ugwu
August 2, 2022
in Stock Market
gtbank, stock market, Bulls dominate Nigerian bourse ASI up 0.74%, Investors gain N77 billion., Crude oil bulls lose steam, as COVID-19 cases hit record high

Bulls and stock market capitalization

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Activities on the Nigerian Exchange Limited (NGX) returned to positive route following gains recorded by blue chip firms.

Checks by Nairametrics showed that the gains recorded in the shares of telecom gaint, MTN Nigeria and other blue chip stocks lifted market capitalisation to gain N364 billion or 1.35%, reversing days of bearish trend.

Consequently, the stock market closed positive amidst buy-interests with bulls dominating proceedings on the trading floor.

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The All-share Index (ASI) appreciated by 1.35% to close at 50,626.04 index points as against 49,950.32 index point, the previous day. In the same vein, the overall market capitalization grew by N364 billion or 1.35% to close at N27.300 trillion as against N26.936 trillion the previous day.

Market breadth closed positive with 19 gainers against only nine losers as MC Nichols Plc led the losers with 9.76% while Honeywell Flour Mills Plc led the gainers with 9.66%.

Market Indices  

  • NGX ASI: 50,626.04 points
  • Previous ASI: 49,950.32 points
  • % Day Change: 1.35%
  • % Y-t-D: 18.52%
  • Market Cap (N): 27.300 trillion
  • Volume: 129.166
  • Deals: 4,706

NGX Top ASI gainers   

  • Honeywell up +9.66% to close at N2.27
  • Jaiz up +9.46% to close at N0.81
  • Caverton +8.18% to close at N1.19
  • Japual Gold +8.00 to close at N0.27
  • Mansard +7.56 to close at N1.85

NGX Top ASI losers   

  • MC Nicols down – 9.76% to close at N0.74
  • Wapic down – 9.76% to close at N0.37
  • Chams down – 8.00% to close at N0.23
  • NGX down – 2.73% to close at N21.35
  • UBA down – 2.08% to close at N7.05

Follow us for Breaking News and Market Intelligence.
Tags: CHAMSFeaturedMC NicolsNGXUBA
Chris Ugwu

Chris Ugwu

Chris is a Senior Financial Analyst at Nairametrics Advocates Limited with over a decade stint in active journalism and public relations practice.

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