The Nigerian equities market reversed this week’s losses and traded with bullish sentiments as strong gains recorded in AIRTELAFRI (+9.4%) supported market performance. while NGX market cap grows by over N345 billion, CHAMS led 11 gainers and 41 losers topped by MCNICHOLS.
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Precisely, the All-Share Index increased by 1.2% to 52,591.41 points, with the Month-to-Date and Year-to-Date returns increasing to +6.0% and +23.1%, respectively.
The total volume traded declined by 46.9% to 382.46 million units, valued at NGN4.23 billion, and exchanged in 5,922 deals. UACN was the most traded stock by volume at 48.19 million units, while AIRTELAFRI was the most traded stock by value at NGN647.70 million.
Sectoral performance under our coverage was broadly negative, as the Insurance (-3.7%), Banking (-2.1%), Consumer Goods (-1.3%), Oil & Gas (-0.8%), and Industrial Goods (+0.4%) indices declined.
As measured by market breadth, market sentiment was negative (0.3x) as 38 tickers lost relative to 11 gainers. CHAMPION (-10.0%) and PZ (-9.9%) topped the loser’s list, while CHAMS (+9.5%) and AIRTELAFRI (+9.4%) recorded the most significant gains of the day.