It was two days of gains out of two days of trading in 2022 on the floor of the Nigerian Exchange. Gains recorded on Tuesday’s trading session was anchored on the advancement of the share price of BUACEMENT; the fourth most capitalized company on the exchange.
Wednesday’s gain was equally anchored on the advancement of the share price of AIRTELAFRI; the third most capitalized company on the exchange.
The benchmark index, the All-Share Index (NGX ASI) picked up 429.97 points to close at 43,476.75 points, a 0.99% upwards move from Tuesday’s closing figures.
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The positive close is despite loses recorded DANGCEM (-2.72%) and BUACEMENT (-2.71%); the first and fourth most capitalized companies on the exchange respectively.
Both declines mentioned above were cancelled out by the 10.00% gain in AIRTELAFRI.
Investors’ wealth grew by N242.75 billion, as the market capitalization settled at N23.42 trillion.
BUAFOODS made its debut on the market, and went on to close trading at N44.00, 10.00% up from its opening price.
Activity Level
The activity level improved on Wednesday, as the volume of stocks traded increased by 82.54%, while the value of stocks traded increased by 96.47%.
At the end of the trading on Wednesday, 1.24 billion shares worth N42.96 billion was traded in 4,032 deals.
BUAFOODS, WEMABANK and TRANSCORP Shares were the most traded by volume, with 1.00bn, 25.01mn, and 24.95mn shares respectively.
Shares of BUAFOODS, NGXGROUP and ZENITHBANK were the top three most traded shares by value. Shares worth N40.53bmn, N285.74mn and N275.22mn of BUAFOODS, NGXGROUP and ZENITHBANK respectively were exchanged.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Banking Index: -0.32% (405.62 Points)
- Industrial Goods Index: -2.47% (2,017.79 Points)
- Consumer Goods Index: -0.95% (583.74 Points)
- Oil & Gas Index: 3.03% (353.99 Points)
- Insurance Index: 0.89% (198.93 Points)
Investor Sentiment
Investors sentiment as measured by market breadth (advance/decline ratio) weakened to 0.7x lower than the 2.1x recorded on Friday, as 18 stocks gained while 27 stocks also lost.
Top Gainers:
- AIRTELAFRI gained 10.00% to close at N1,050.50
- BUAFOODS gained 10.00% to close at N44.00
- OANDO gained 9.73% to close at N4.85
- AIICO gained 8.33% to close at N0.78
- ARDOVA gained 7.69% to N12.60
Top Losers:
- UNITYBNK lost 9.62% to close at N0.47
- ROYALEX lost 9.41% to close at N0.77
- REGALINS lost 8.16% to close at N0.45
- UBN lost 6.90% to close at N5.40
- MBENEFIT lost 6.25% to close at N0.30
Nnamdi Maduakor is a Writer, Investor and Entrepreneur