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NGX Trading Indices Close 0.10% Higher on Sustained Buying Interest

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NSE Trading Indices

By Dipo Olowookere

The key trading indices of the Nigerian Exchange (NGX) Limited remained in the green territory on Monday as they ended the first trading session of the new week 0.10 per cent higher.

This was driven by a sustained buying interest in some large and mid-cap equities like BUA Foods, Ecobank, Dangote Cement, FBN Holdings, Honeywell Flour, Lafarge Africa and others.

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When the market closed for the day, the All-Share Index (ASI) was up by 42.71 points to 43,897.13 points from 43,854.42 points, while the market capitalisation was up by N23 trillion to N23.651 trillion from N23.628 trillion.

Business Post reports that investor sentiment was positive yesterday as the market closed with 19 price losers and 28 price gainers led by BUA Foods, which rose by 9.96 per cent to N58.50.

MRS Oil appreciated by 9.72 per cent to N13.55, PZ Cussons grew by 8.53 per cent to N7.00, AIICO Insurance expanded by 7.69 per cent to 84 kobo, while NPF Microfinance Bank appreciated by 6.45 per cent to N1.98.

On the opposite side, Northern Nigerian Flour Mills ended the session as the heaviest price loser after its share price went down by 9.66 per cent to N6.55.

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Union Bank declined by 6.90 per cent to N5.40, Red Star Express shrank by 6.38 per cent to N3.23, MTN Nigeria lost 5.84 per cent to sell for N185.50, while Sovereign Trust Insurance fell by 3.85 per cent to 25 kobo.

During the day, BUA Foods was the most active stock as it traded stock with a turnover of 101.4 million units valued at N5.9 billion and was trailed by Transcorp, which exchanged 51.2 million units for N50.2 million.

Zenith Bank sold 12.1 million equities worth N308.6 million at the market on Monday, GTCO transacted 10.4 million stocks valued at N265.6 million, while Sovereign Trust Insurance traded 9.5 million shares valued at N2.3 million.

Analysis showed that the volume of shares transacted by investors yesterday went down by 21.23 per cent to 311.3 million units from 395.2 million units, while the value dropped 30.30 per cent to N8.6 billion from N12.4 billion, with the number of deals appreciating by 31.51 per cent to 5,159 deals from 3,923 deals.

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The sectorial performance of the session indicated that the insurance and industrial goods counters appreciated by 2.77 per cent and 1.71 per cent respectively, while the energy, banking and consumer goods sectors depreciated by 0.58 per cent, 0.12 per cent and 0.05 per cent respectively.

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Market closes Flat, capitalization appreciates by N6.06 billion

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1643128517 1643128516 802 Stock market

The NGX closed on a flat note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 2 basis points.

The NGX ASI closed at 45,939.51 points, to reflect a growth of 0.02% from the previous trading day and a Year-to-Date (YTD) return of 7.55%. Meanwhile, the market capitalization increased by N6.06 billion.

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At the close of market on Tuesday 25th January 2022, the stock exchange market value currently stands at N24.766 trillion from N24.749 trillion in the previous trading day.

The market breadth closed positive as COURTVILLE led 20 gainers, and 15 Losers topped by CILEASING at the end of today’s session.

The stock market has advanced 3,223.07 base points since the start of the year.

NGX ASI Top gainers

  • COURTVILLE up +10.00% to close at N0.55
  • ETI up +9.94% to close at N9.95
  • ACADEMY up +9.72% to close at N0.79
  • CHAMPION up +8.05% to close at N2.55
  • REGALINS up +5.26% to close at N0.40

NGX ASI Top losers

  • CILEASING down – 10.00% to close at N3.78
  • PRESTIGE down – 9.80% to close at N0.46
  • CORNERST down – 3.77% to close at N0.51
  • MBENEFIT down – 3.70% to close at N0.26
  • UPDC down – 3.45% to close at N1.12

NGX ASI Top Traded by Volume

  • GTCO – 24,519,109 units
  • COURTVILLE – 21,425,555 units
  • TRANSCORP – 20,439,908 units
  • ZENITH – 17,318,113 units
  • CHAMS – 16,555,538 units

NGX ASI Top Traded by Value

  • SEPLAT – N963,417,647.00
  • GTCO – N625,346,343.70
  • ZENITHBANK – N440,520,098.70
  • MTNN – N439,675,780.70
  • NB – N293,012,436.25

Market sentiments trend towards the bulls with the market differential being in favour of the advancers as 20 gainers surpassed 15 losers.

... Market closes Flat, capitalization appreciates by N6.06 billion Read More on ... Nairametrics.

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Source: NairaMetrics

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Fuel Subsidy: Removal dependent on Refineries, Palliatives, Auto-gas implementation policies- Sylva

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1643128504 Timipre Sylva

Recall Nairametrics reported last year on November 24th, the Nigerian Government announced it was offering N5,000 monthly each for about 40 million Nigerians. The amount represents a palliative meant to help recipients alleviate the pain that a full subsidy removal could bring.

The cash for subsidy program is likely to cost the federal government about N2.4 trillion annually if it were to implement it next year as planned. Expectedly, the Nigerian Labour Conference has rejected the offer terming it “Penny wise pound foolish”- a saying for bad financial judgement.

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Source: NairaMetrics

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