Nigerian stock market daily report: NGX-ASI surpasses 100k points as bull run continues

The Nigerian Exchange’s All-Share Index (NGX-ASI) has surpassed 100,000 points as the bull run continues, propelled by bellwether stocks on Wednesday.

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Positive movement in the share prices of highly capitalized companies; BUA Cement Plc (NGX: BUACEMENT), Dangote Cement Plc (NGX: DANGCEM) and BUA Foods Plc (NGX: BUAFOODS) contributed significantly to Wednesday’s performance.

The NGX All-Share Index gained 3.00%, to close at record high 101,571.11 points. The market capitalization rose by the same percentage points to close the day’s trading at ₦55.58 trillion.

Activity Level

The activity level waned on Wednesday as the volume, value of shares traded and the number of deals done all decreased.

The volume of shares and value of shares traded dropped by 34.66% and 50.63% respectively, while the number of deals done also decreased by 27.18%.

By the end of trading, 488.49 million shares valued at ₦8.03 billion had exchanged hands in 12,080 deals.

Shares of Transnational Corporation Plc (NGX: TRANSCORP), Universal Insurance Plc (NGX: UNIVINSURE) and Unity Bank Plc (NGX: UNITYBNK) were the most traded stocks by volume with 95.10 million, 45.62 million and 27.34 million shares respectively.

Shares of Transnational Corporation Plc (NGX: TRANSCORP), BUA Cement Plc (NGX: BUACEMENT) and United Bank for Africa Plc (NGX: UBA) were the most traded by value, with their shares worth ₦1.58 billion, ₦703.79 million and ₦703.54 million respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 35 stocks advanced against 32 decliners.

The top five gainers were;

1. Coronation Insurance Plc (NGX: WAPIC): It gained 10% to close at ₦0.88.
2. BUA Cement Plc (NGX: BUACEMENT): It gained 9.98% to close at ₦179.65.
3. Japaul Gold and Ventures Plc (NGX: JAPAUL): It gained 9.91% to close at  ₦2.55.
4. University Press Plc (NGX: UPL): It gained 9.82% to close at ₦3.69.
5. Tripple Gee and Company Plc (NGX: TRIPPLEG): It gained 9.69% to close at ₦2.83.

The top five losers on were;

1. NEM Insurance Plc  (NGX: NEM): It lost 10% to close at ₦7.20.
2. Cadbury Nigeria Plc (NGX: CADBURY): It lost 9.96% to close at ₦23.50.
3. The Initiates Plc (NGX: TIP): It lost 9.92% to close at ₦2.27.
4. May & Baker Plc (NGX: MAYBAKER): It lost 9.89% to close at ₦6.65.
5. McNichols Consolidated Plc (NGX: MCNICHOLS): It lost 9.88% to close at ₦1.46..

Two of the indices under our watch closed negatively, while three advanced.

1. Banking Index: The index lost 0.61% to close at 995.91 points (YTD: +11.00%).
2. Industrial Index: The industrial index gained 7.64% to close at 5,333.20 points (YTD: +96.63%).
3. Consumer Goods Index: The index gained 4.07% to 1,449.85 points (YTD: +29.30%).
4. Oil & Gas Index: It gained 0.09% to 1,222.01 points (YTD: +17.16%).
5. Insurance Index: The index lost 1.52% to 415.32 points (YTD: +29.12%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur