Week Ended Sept 2, NGX Enjoyed 3 Positive Days Against 2 Losses

A review of the trading activities at the Nigerian Exchange Limited for the week ended Friday, September 2, 2022, shows that stocks enjoyed 3 days of bullish and a 2-day of bearish performance.

This led to investors gaining about N197billion while the market’s positive return year-to-date (YTD) increased to 17.16 percent.

Nigeria’s stock market increased by 0.73% in the trading week that ended Friday, September 2 as buy-side activities strengthened across key sectors on the Bourse.

Read Also: NGX Rises Third Day in A Row as Investors Count N11bn Gain

Monday, August 29, 2022, trading activities ended on a bearish slope as the market capitalisation declined 0.01% or N2.91bn to close at N26.794trn from ₦26.797trn.

United Bank For Africa Plc led the gainers table with (+0.70%), followed by Zenith Bank PLC (+0.23%) and FBN Holdings Plc (+0.46%).

Trading at the NGX, fell on Tuesday as All-Share Index (ASI), dipped to close at 49.642.69 points. Equity trading on the floor of the NGX also dropped in share prices as bears sustained their grip on the local bourse following low market sentiment.

Market capitalisation of equities was not left out as it depreciated by N19 billion from N26.794 trillion the previous day to N26.775 trillion as market sentiment remained in negative territory.

The highest price gainers were eTranzact with a value rise of 9.65% to N2.50, Sovereign Trust Insurance improved by 7.69% to 28 Kobo, Vitafoam appreciated by 7.27% to N23.60, Japaul advanced by 6.45% to 33 Kobo, while Consolidated Hallmark Insurance gained 4.84% to sell for 65 Kobo

A trading session on Wednesday 31st of Aug, 2022 ended on a bullish note, as the local bourse rebounded leaving the benchmark index 0.39% stronger at 49,836.51 basis points.

All-Share-Index closed positive just as market capitalisation was also positive aiding to gain N104.54 billion.

The key sectoral indices closed in the same direction as the ASI, save for NGX Insurance, NGX Consumer Goods, and NGX Oil & Gas sectors that gained 0.08 per cent, 0.001 per cent and 0.10 per cent respectively in the session, while NGX INDUSTR, NGX Growth, and NGX ASEM sectors closed flat.

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

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% and 16.67% respectively.

Pharmdeko led the gainers table with 7.43% 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.

Friday, Sept 2, 2022, ended on a bullish run as the All-Share Index (ASI) of the NGX increased by 20.28 points to settle at 49,682.15 points in contrast to the previous day’s 49,661.87 points.

Investors gained N11 billion, leaving the exchange’s market capitalization to swell to N26.797 trillion from N26.786 trillion.

Read Also: NGX Extends Gain by 2.03% as ASI Adds 203 Points

Top gainers are Mutual Benefit, Unity Bank chalked, and Academy Press among others.

By sectors, the consumer goods and the energy sectors helped the market remain in the green territory as they respectively grew by 0.51 per cent and 0.16 per cent.

The banking, insurance, and industrial goods counters witnessed profit-taking as they shed 0.67 per cent, 0.39 per cent, and 0.01 per cent respectively.

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