NGX Extends Gain by 2.03% as ASI Adds 203 Points

The Nigerian Exchange Limited (NGX) continued its bullish recovery on Thursday, August 25 as the bourse extends the previous day’s gain to close with a 2.03 per cent increase benchmark index.

The overall bullish trade happened as the All Share Index (ASI) gained 203 basis points (bps) to push the ASI to 49,661.87bps as against its previous close of 48,675.33bps, thus both the month-to-date and year-to-date performance of the ASI was pegged at -1.41 per cent and 16.26 per cent from their previous close of -3.36 per cent and 13.95 per cent respectively.

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Investors, therefore, earned N532 billion as the market capitalisation followed suit the direction of the ASI to stand at N26.786 trillion, representing a 2.03 per cent increase from the N26.254 trillion it stood at the end of the previous trading session, as investors’ networth improved by N532 billion in the session.

Also, the bullish stocks maintained dominance over the market breadth with 18 counters in the gainers’ chart pitted against 11 counters in the losers’ chart.

CWG gained 10.00 per cent to become the best performing stock in the session. It is flanked by Learn Africa, Caverton, Multiverse, and Chams as they populated the top five gainers’ chart.

Mutual Benefits, Honeywell Flour Mills, Flour Mills of Nigeria, Unity Bank, and FCMB Group occupied the top five losers’ chart.

All sectoral indices closed in the same direction as the ASI, save for NGX Consumer Goods and NGX Industry sectors that shed 0.06 per cent and 0.01 per cent respectively in the session, while NGX Growth and NGX ASEM sectors closed flat.

Market activity as measured by the volume of trades improved in the session with daily traded volume standing at 226.473 million units, representing a 35.15 per cent uptick from a volume of 167.569 million units traded in the previous session.

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Nigeria stock market

On the other hand, the value of those traded stocks waned by 18.08 per cent in the session to stand at N2.764 billion against a value of N3.374 billion recorded in the previous trading session.

The financial service sector dominated the volume charts with Mutual Benefits as the top traded stock by volume for the trading session. This is followed by FBN Holdings, Access Corporation, United Bank for Africa, and NEM Insurance to complete the list of the five most traded stocks by volume.

Regarding the value of traded stocks, MTN Nigeria took the lead among the top five performers. It is flanked by Nestle Nigeria, Airtel Africa, FBN Holdings, and Guaranty Trust Holding Company.

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