Finance

Bulls extend dominance at stock market, ASI up 0.3%

Published

4 years ago

April 13, 2022

Today, buying interest in MTNN (+0.9%), GTCO (+3.2%), and UBN (+6.6%) bolstered performance as the NGX All-Share Index rose 0.3% to 47,367.31 points. Accordingly, YTD return strengthened to 10.9% (previously: 10.5%) while market capitalisation gained ₦87.5bn to ₦25.5tn. Trading activity rose as volume and value traded advanced 59.7% and 117.3% respectively to 391.9m units and ₦10.0bn.

Across our sector coverage, performance was bullish as 4 indices gained, 1 lost, while the Industrial Goods index closed flat. The Banking and AFR-ICT indices rose 0.6% and 0.4% respectively on the back of buying interest in UBN (+6.6%), UBA (+2.5%), and MTNN (+0.9%). Similarly, the Consumer Goods and Oil & Gas indices closed higher by 3bps each, following price uptick in NB (+0.9%), FLOURMILL (+1.6%), and OANDO (+0.2%). Conversely, the Insurance index fell 0.2% due to price decline in WAPIC (-4.4%) and SUNUASSURE (- 7.7%).

Investor sentiment, as measured by market breadth, strengthened to 0.25x from 0.21x in the prior session as 31 stocks advanced, 16 declined while 60 closed flat. In the final trading session of the week, we expect the positive performance to persist on improved sentiment.

Market Cap (₦’bn) 25,536.20

Market Cap ($’bn) 61.3

NGX All-Share Index 47,367.31

Daily Performance % 0.3%

WTD Performance % 1.6%

MTD Performance % 0.9%

QTD Performance % 0.9%

YTD Performance % 10.9%

Daily Volume 391.9

Daily Value (₦’bn) 10.0

Daily Value ($’m) 23.9

Sectoral Indices Performance