Nigerian equities market maintains bullish run as market cap gains N29 billion  

The Nigerian Exchange (NGX) closed positive keeping the bullish trend going for the first three trading days of the week, with the All-Share Index (ASI) crawling up by 0.05% to close at 98,944.42.

Market capitalization increased by N29 billion to reach N59.95 trillion, up from N59.92 trillion, even as both trading volume and value dropped sharply, nearly pulling the market toward a negative close.

In the face of the gain recorded in ASI and market capitalization, value trading activity tanked by 66.63% in trade value.

The value of trade recorded a N8.29 billion drop from N24.84 billion, while trading volume fell to 283.7 million shares from 581 million shares.

EUNISELL, OANDO, and UNILEVER led the gainers, each rising by 10.00%, followed by REGALINS with a 9.62% gain and OMATEK with an 8.06% gain.

For the stocks that nosedived, ARADEL and NNFM topped the list with a 9.99% decline each, alongside CONHALLPLC, down 6.12%, UPDC, which fell 5.81%, and ELLAHLAKES, down 4.31%.

Market Summary  

• Current ASI:  98,944.42

• Previous ASI: 98,892.58 points

• Day Change: 0.05%

• Year-to-Date Performance:  32.32%

• Volume Traded: 283.72 million shares

• Value Traded: N8.29 billion

• Total Deals:  7,966

Top Gainers  

• EUNISELL: 10% to N 3.19

• OANDO: 10% to N 89.65

• UNILEVER: 10% to N 20.90

• MCNICHOLS: 9.79% to N 1.57

• REGALINS: 9.62% to N 0.57

  Top Losers  

• ARADEL: -9.99% to N 562.90

• NNFM: -9.93% to N 34.00

• CONHALLPLC: -6.12% to N 1.38

• UPDC: -5.81% to N 1.46

• DEAPCAP: -4.76% to N1.26

Top Traded Stocks  

The market had a massive decline of N16.55 billion in trade values, representing a reduction of 66.63%. This brought the total value down to N8.29 billion, compared to N24.84 billion in the previous session.

UBA topped the list of top trade value, contributing N3.8 billion, followed by OANDO with N2.5 billion, NB with N2.1 billion, ZENITHBANK with N2.0 billion, and SEPLAT with N2.0 billion.

Trading activity also saw a drop in trade volume, declining by 51.99%. UBA also topped the chart of the trade volume with 66.03 million shares, followed by NB with 37.37 million shares. Other notable contributors included ACCESSCORP with 17.57 million shares, OANDO with 17.09 million shares, and ZENITHBANK with 16.10 million shares.

SWOOT and FUGAZ Update  

The SWOOT stocks, which include DANGOTE CEMENT, AIRTEL, BUA CEMENT, BUA FOODS, MTNN, SEPLAT, GEREGU, TRANSCORP POWER, TRANSCOHOT, and GTCO remained relatively stable throughout the trading session.

In the SWOOT, ZENITHBANK recorded a 4.66% increase and OANDO emerged among today’s top gainers with a 10.00% uptick, reaffirming its place in the SWOOT category. ARADEL on the other hand declined by 9.99%.

The FUGAZ stocks had mixed trends – GTCO remained relatively unchanged, while ZENITHBANK rose by 4.66%, Access Holdings managed a slight gain of 0.50%, and UBA surged by 5.19%, with FBN Holdings leading the pack with a 6.49% increase.

Outlook  

• The ASI increased by a meager 0.05% with the market narrowly escaping the bear.

• Traded volume and value dipped by more than half of the previous day’s figures.

• The market may close tomorrow’s trading session on a bearish trend if volumes and value do not improve.