Nigerian Stock Market Opens September 0.1% in Positive Territory

 

The Nigerian Exchange Limited (NGX) launched the month of September on a positive foot as the benchmark index appreciates by 0.1 per cent by the end of Thursday’s session.

The All-Share-Index (ASI) inched up by 11 basis points (bps) to settle at 49,898.88 bps as against its previous close of 49,836.51bps.

bullish or bearish
Bullish or Bearish

This bullish outing pegged both the month-to-date and year-to-date performance of the ASI at 0.11 per cent and 16.79 per cent from their previous close of -1.06 per cent and 16.67 per cent respectively.

Due to this, investors earned N29 billion added to their net worth as the market capitalisation followed suit the direction of the ASI to stand at N26.909 trillion, representing a 0.11 per cent increase from the N26.880 trillion it stood at the end of the previous trading session.

There was a bullish edge over the market breadth with 14 counters in the gainers’ chart pitted against 12 counters in the losers’ chart.

On the chart, Pharmdeko gained 7.43 per cent to become the best performing stock in the session, flanked by CHI Plc, UPDC, FCMB Group and Fidelity Bank as they populated the top five gainers’ chart. From the rear of the chart Mutual Benefit, CWG, Transcorp, Lasaco Insurance and Sterling Bank populated the top five losers’ chart.

Most sectoral indices closed in the same direction as the ASI, save for NGX Consumer Goods, NGX Banking and NGX Insurance sectors that shed 0.27 per cent, 0.43 per cent and 0.54 per cent respectively in the session, while NGX Growth and NGX ASEM sectors closed flat.

Market activity as measured by both volume and value of trades waned in the session with daily traded volume standing at 229.121 million units, representing a 37.63 per cent downtick from a volume of 367.301 million units traded in the previous session.

The value of those traded stocks dipped by 45.95 per cent in the session to stand at N1.750 billion as against a value of N3.237 billion recorded in the previous trading session.

The banking sector dominated the volume charts with Sterling Bank as the top traded stock by volume for the trading session, followed by Guaranty Trust Holding Company (GTCO), Fidelity Bank, Mutual Benefits, and Zenith Bank to complete the list of the five most traded stocks by volume.

With regard to the value of traded stocks, GTCO took the lead among the top five performers. It is flanked by MTN Nigeria, Zenith Bank, Sterling Bank, and Seplat.

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