- Key Market Indices closed positive as NGX reacts positively to the reports that central banks have given commercial banks and dealers in the forex market the green light to sell forex freely.
- The All-Share Index (ASI) traded 3.13% higher to close at 59,985.10 points as market capitalization gained N992 billion to close at N32.662 trillion.
- Dangote Sugar (10.00%) led the losers while UBA Plc was the most traded equity in terms of volume.
The Nigerian Exchange (NGX) closed positive at the end of today’s trading session.
Other News
Nairametrics earlier reported that central banks have given commercial banks and dealers in the forex market the green light to sell forex freely.
The All-Share Index (ASI) traded 3.99% higher to close at 59,985.10 index points as against 58,163.55 index points recorded in the previous day’s trading session.
The market capitalization of equities appreciated by N992 billion to close at N32.662 trillion, a 3.13% gain compared to the N31.670 trillion recorded in the previous trading session.
Market breadth closed positive as International Breweries (10.00%) led gainers, Pharm Deko (-9.65%) led losers while UBA Plc was the most traded equity – by volume – at the end of today’s session.
Market Indices
Below are the market indices for today’s trading session:
- NGX ASI: 59,985.10 points
- Previous ASI: 58,163.55 points
- % Day Change: +3.13%
- % YTD: +17.04%
- Market Cap: N32.662 trillion
- Volume Traded: 1.29 billion
- Value: N21.08 billion
- Deals: 11,947
NGX TOP GAINERS (All gained 10%)
- DANGOTE SUGAR REFINERY PLC
- INTERNATIONAL BREWERIES PLC.
- SEPLAT ENERGY PLC
- STERLING FINANCIAL HOLDINGS COMPANY PLC
- FBN HOLDINGS PLC
- MTN NIGERIA COMMUNICATIONS PLC
- STANBIC IBTC ETF 30
- TRANSCORP HOTELS PLC
- TOTALENERGIES MARKETING NIGERIA PLC
- NASCON ALLIED INDUSTRIES PLC
NGX TOP LOSERS
- PHARMDEKO was down by -9.65% to close at N3.60 per share
- CWG was down by -9.44% to close at N1.26 per share
- NNFM was down by -8.66% to close at N0.47 per share
- BUACEMENT was down by -6.52% to close at N1.24 per share
- ARDOVA was down by -5.06% to close at N0.22 per share
TOP 3 BY VOLUME
- UBA- 230,764,290
- GTCO – 125,469,900
- ZENITHBANK – 119,143,503
TOP 3 BY VALUE
- GTCO – N4,204,591,278
- ZENITHBANK – N3,971,590,320
- UBA – N2,744,215,796
The market is doing well on the backdrop of good Q1 report, expectation of better Q2 reports in some of the listed companies. Above all, subsidy removal will improve business for petroleum marketers. Market will continue to do well for as long as those that want to sell shares to access forex to take positions or exit the country are able to see buyers. Where there is buyer deficit, market will collapse. Olomide and Presco are in their.own world. Where is all these leading us to? Surely, it is increase in food prices. The likely increase in crude oil prices in the international market has its pros and cons but ultimately will impact in high food prices as pump price goes up. We are surely in for a tough time. Okay to sell shares and bonds to take positions in the forex market. I hope the tinubu administration will pump enough dollars into.the system.especially the $47billion Emiefiele is believed to have stashed away. It should not grow wings or be re-stolen