It was the first trading session of the year 2022, and it ended on a positive note. The benchmark NGX All-Share Index (NGX ASI) picked up 309.79 points, to advance by 0.73% and close the day on 43,026.23 points.
Investors’ gained N886.9bn as the Market Capitalization surpassed N23 trillion to close Tuesday’s trading at N23.18 trillion.
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The positive performance on the years’ opening session is attributable to the upwards movement in the share price of Bua Cement Plc. The share price of the fourth most capitalized stock on the market gained 7.31% as it moved from N67.05 to N71.95.
The Nigerian Exchange All-Share Index had closed the year 2021 with a +6.07%.
Activity Level
The activity level waned on Tuesday, when compared to the last trading session. The volume of stocks traded decreased by 52.41%, while the value of stocks traded decreased by 84.67%.
At the end of the trading on Tuesday, 216.65 million shares worth N1.51 billion was traded in 4,080 deals.
CHAMS, WEMABANK and ZENITHBANK Shares were the most traded by volume, with 29.86mn, 17.11mn, and 11.03mn shares respectively.
Shares of ZENITHBANK, NB and GTCO were the top three most traded shares by value. Shares worth N278.21mn, N232.89mn and N212.45mn of ZENITHBANK, NB and GTCO respectively were exchanged.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Banking Index: +0.21% (406.92 Points)
- Industrial Goods Index: +2.95% (2,067.58 Points)
- Consumer Goods Index: 0.00% (589.28 Points)
- Oil & Gas Index: -0.50% (343.28 Points)
- Insurance Index: -0.48% (197.16 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:
- ACADEMY gained 10.0% to close at N
- WEMABANK gained 9.7% to close at N
- CORNERSTONE gained 8.7% to close at N
Top Losers:
- ARDOVA lost 10.0% to close at N
- VITAFOAM lost 10.0% to close at N
- NNFM lost 10.0% to close at N
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
